GBPJPY pared some of its gains on the strong yen. It hits a low of 182.72 and is currently trading around 182.807.
GBPUSD- Trend- Bullish
The pound sterling showed a minor sell-off after hawkish FOMC meeting minutes. The minutes showed that all Fed officials agreed to rate pause at the June meeting and more rate hikes this year. Any break above 1.2750 confirms intraday bullishness.
USDJPY- Bullish
The pair declined more than 100 pips on intervention fears and an increase in demand for safe-haven assets. Significant Resistance is 143.70/143.35.
GBPJPY analysis-
The near-term support is around 182, a breach below the target of 181.20/180. The immediate resistance is at 183.25, any violation above will take the pair to 184/185/186.
Indicators (4-hour chart)
CCI (50)- Neutral
ADX- Bearish
It is good to sell on rallies around 183.25-30 with SL around 184 for a TP of 180.
