GBPJPY was one of the best performers the previous week and surged more than 1000 pips on a weak yen. It hits a high of 183.87 and is currently trading around 183.60.
GBPUSD- Trend- Bullish
The pound sterling recovered sharply after a weak US PCE index. Headline US PCE index rose 0.10% m/m, below expectations of 0.50%. Core PCE came at 0.30% m/m, in line with market expectations. Any break above 1.2750 confirms intraday bullishness.
USDJPY- Bullish
The pair hits a fresh seven-month high as BOJ maintains its dovish stance. Significant Resistance is 145.250/146.
GBPJPY analysis-
The near-term support is around 182.90, a breach below targets 182/181.65/181. 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 183 with SL around 182 for a TP of 185.
