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FxWirePro- GBPJPY Daily Outlook

    
GBPJPY lost its shine on the strong yen. It hit a low of 182.69 yesterday and is currently trading around 182.71.

 GBPUSD- Trend- Bearish

The pound sterling showed a minor pullback from a multi-month low of 1.24510. The US dollar index halted its 8-week bullish trend on easing US treasury yields and renewed upbeat market sentiment. Any break above 1.2560 confirms further bullishness.  
 

USDJPY- Bullish

 The pair lost more than 200 pips on hawkish comments from BOJ Governor Ueda. The significant support is 145.80/144.40.
     
 GBPJPY analysis-
 
 The near-term resistance is around 183.65, a breach above targets 184.60/185. The immediate support is at 182.80, any violation below will drag the pair to 182/180.
 
  Indicators (4-hour chart)
 
  CCI (50)- Bearish
 
  ADX- bearish
 
  It is good to sell on rallies around 183.75-80 with SL around 185 for the TP of 180.


 

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