GBPJPY showed a minor pullback after BOE monetary policy. It hit a low of 180.40 yesterday and is currently trading around 181.48.
GBPUSD- Trend- Bearish
The pound sterling jumped slightly after a little hawkish BOE monetary policy. Bank of England hiked rates by 25 bpbs as expected to 5.25% to tackle inflation. The central bank said it would keep rates higher until UK inflation comes under control. Any break above 1.2750 confirms further bullishness.
USDJPY- Bullish
The pair showed a minor decline ahead of the US Non-farm payroll. The significant resistance is 143.60/145.
GBPJPY analysis-
The near-term support is around 181, a breach below the target of 180/178.80. The immediate resistance is at 182.50, any violation above will take the pair to 183.25/184.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to stay away.
