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FxWirePro- GBPJPY Daily Outlook

GBPJPY lost its shine on the strong yen. It hit a low of 184.06 and is currently trading around 184.678.

 

 GBPUSD- Trend- Bearish

 

The pound sterling showed a mild recovery towards 1.26500 on the board-based US dollar weakness. edges towards 1.2650 on board-based US dollar weakness. US consumer sentiment declined in August to 106.10, compared to a forecast of 116. Any break above 1.2660 confirms further bullishness.

 

 

USDJPY- Neutral

 

 The pair dropped more than 100 pips on easing US treasury yield. The significant resistance is 147.40/148.

 

 GBPJPY analysis-

 

 The near-term resistance is around 185, a breach above targets 186.50/187/188.50. The immediate support is at 183.45, any violation below will drag the pair to 183/182.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bearish

 

  ADX- neutral

 

  It is good to stay away.

 

 

 

 

 

 

 

 

 

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