GBPJPY traded weak for the second consecutive day and lost more than 200 pips. It hit a low of 186.28 yesterday and is currently trading at around 186.30.
GBPUSD- Trend- Neutral
The pound sterling lost its shine after weak UK retail sales. It declined 0.30% in Oct below expectations of 0.50%. Any close below 1.2375 confirms further bearishness.
The number of people who have filed for jobless benefits increased by 13000 in the week ending November 11th to 231000, compared to a forecast of 218000.
USDJPY- Bullish
The pair showed a minor sell-off on easing US treasury yield. The significant resistance is 152/153.
GBPJPY analysis-
The near-term resistance is around 187, a breach above targets 188.35/ 189.20/190. The immediate support is at 186, any violation below will drag the pair to 185.40/184.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Neutral
It is good to sell on rallies around 186.75-80 with SL around 188 for the TP of 184.
