GBPJPY pared some of its gains on the weak Pound sterling. It hits a low of 182.14 and is currently trading around 182.40.
GBPUSD- Trend- Bullish
The pound sterling declined more than 150 pips on board-based US dollar selling. Markets eye BOE Governor Bailey's speech for further direction. The Fed's hawkish outlook supports the US dollar at lower levels. Any close below 1.2600 confirms intraday bearishness.
USDJPY- Bullish
The pair trades higher above 144.50 on BOJ's dovish stance. Significant Resistance is 145/146.
GBPJPY analysis-
The near-term support is around 182, a breach below targets 181.65/181. The immediate resistance is at 184, any violation above will take the pair to 185/186.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 182. with SL around 181 for a TP of 185.
