GBPJPY showed a minor pullback after a major sell-off. It hit a low of 184.45 yesterday and is currently trading at around 186.42.
GBPUSD- Trend- Neutral
The pound sterling pared some of its gains after the FOMC meeting minutes. Fed officials unanimously decided to keep the benchmark lending rate unchanged in a range of 5.25% to 5.5%. The Fed members agreed that the central bank would hike rates if incoming data was insufficient.
Any close above 1.2550 confirms further bullishness.
USDJPY- Bullish
The pair surged sharply after the FOMC meeting minutes. The significant resistance is 152/153.
The near-term resistance is around 187, a breach above targets 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 buy on dips around 186 with SL around 185 for the TP of 188.
