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FxWirePro- GBPJPY Daily Outlook

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.

 

 

 

 

 

 

 

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