GBPJPY gained sharply after the Bank of England monetary policy. It hits a high of 182.56 yesterday and is currently trading around 182.13.
GBPUSD- Trend- Bullish
The pound sterling climbed above 1.2840 after a hawkish rate hike by BOE. The Bank of England has surprised markets with a 50 bpbs rate hike to 5%, its highest since 2008. UK retail sales rose to 0.30% in May, above the forecast of -0.20%. Any break below 1.2690 confirms intraday bearishness.
USDJPY- Bullish
The pair hits fresh seven months at 143.43 amid hawkish comments by the Fed chairman. Significant Resistance is 143.50/145.
GBPJPY analysis-
The near-term support is around 181.50, a breach below targets 180.80/179.80/178.80. The immediate resistance is at 182.60, any violation above will take the pair to 183/184.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 181 with SL around 179.90 for a TP of 185.
