GBPJPY showed a minor sell-off from yesterday's top 181.45 on the strong yen. It hits an intraday high of 180.93 and is currently trading around 180.88.
GBPUSD- Trend- Bullish
The pound sterling consolidating near a 15-month high. The policy divergence between US Fed and BOE supports the Pound sterling at lower levels. Any break above 1.3150 confirms intraday bullishness.
USDJPY- Bullish
The pair trades lower for the second consecutive day on declining US treasury yields. Significant support is 137/135.
GBPJPY analysis-
The near-term support is around 180, a breach below targets 179.25/178. The immediate resistance is at 181.50, any violation above will take the pair to 182/183.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 181.50 with SL around 182.50 for a TP of 179.28.
