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FxWirePro- GBPJPY Daily Outlook

GBPJPY is trading flat between 183.874 and 182.92 for the past three days. It hits a low of 183.23 and is currently trading around 183.67.

 

 GBPUSD- Trend- Bullish

 The pound sterling recovered above 1.2700 on weak US ISM manufacturing PMI. US ISM manufacturing PMI declined in June to 46, compared to a  forecast of 47.20 expected. Any break above 1.2750 confirms intraday bullishness.

 

 

USDJPY- Bullish

 

 The pair showed a minor profit booking after hitting a fresh seven-month high on BOJ intervention fears. 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.

 

 

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