GBPJPY surged sharply and hits two weeks high on weak Yen. It hits an intraday high of 183.20 and is currently trading around 183.04.
GBPUSD- Trend- Bullish
The pound sterling consolidated after a minor pullback. The pair gained slightly on Friday after mixed US economic data. Markets eye BOE monetary policy and US ISM manufacturing PMI for further direction. Any break above 1.2900 confirms further bullishness.
USDJPY- Bullish
The yen dropped sharply on BOJ's unscheduled bond-buying operation. Significant resistance is 143/144.
GBPJPY analysis-
The near-term support is around 182.50, a breach below the target of 181.80/181. The immediate resistance is at 183.25, any violation above will take the pair to 184/185.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 182.50 with SL around 181.50 for a TP of 184.
