GBPJPY trades higher for the fourth consecutive day on strong pound sterling. It hit a high of 187.65 yesterday and is currently trading at around 187.95
GBPUSD- Trend- Bullish
The pound sterling was one of the best performers in this month. The board-based- US dollar selling and hawkish BOE support Pound sterling at lower levels. Any close above 1.2650 confirms further bullishness.
USDJPY- Bearish
The pair pared most of its gains ahead of US housing data. The significant support is 147/145.
The near-term resistance is around 188.65, a breach above targets 189.20/190. The immediate support is at 187, any violation below will drag the pair to 186.50/185.40
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 188 with SL around 187 for the TP of 190.
