FxWirePro- GBPJPY Daily Outlook

GBPJPY trades flat after a minor pullback ahead of UK employment data. It hit a high of 183.618 at the time of writing and is currently trading around 183.50.

 GBPUSD- Trend- Bearish

The pound sterling is consolidating ahead of UK Claimant count data. The number of people filing for unemployment benefits expected to decline  by 17000 in July from 29000. The UK ILO unemployment seems to rise by 4.3% in July against the previous rate of 4.2%. Any break above 1.2560 confirms further bullishness.  

USDJPY- Bullish

 The pair showed a minor jump on the strong US treasury. The significant support is 145.80/144.40.

 GBPJPY analysis-

 The near-term resistance is around 183.90, 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.