GBPJPY lost more than 400 pips on the strong yen. It hit a low of 184.62 yesterday and is currently trading at around 184.67.
GBPUSD- Trend- Neutral
The pound sterling hit a multi-month high on board-based US dollar weakness. Bank of England governor's hawkish remarks on Monday also support the sterling at lower levels. He said that "far too early to be thinking about rate cuts". Any close above 1.2550 confirms further bullishness.
Markets eye US FOMC meeting minutes for further direction.
USDJPY- Bullish
The pair trading lower ahead of the US FOMC meeting minutes. The significant resistance is 152/153.
The near-term resistance is around 185.25, a breach above targets 186/187/188.35/ 189.20/190. The immediate support is at 184.50, any violation below will drag the pair to 183.60/182.50.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 185.45-50 with SL around 186.25 for the TP of 183.
