GBPJPY lost its shine on the strong yen. It hit a low of 186.61 at the time of writing and is currently trading at around 186.86.
GBPUSD- Trend- Bullish
The pound sterling pared some of its gains on board-based US dollar selling. US CB consumer confidence rose to 102 in Nov, compared to a forecast of 101. Richmond manufacturing activity slowed in Nov to -5 vs. Estimate 1. Market eyes US prelim GDP for further direction. Any close above 1.2730 confirms further bullishness.
USDJPY- Bearish
The pair declined more than 300 pips after dovish comments from Fed Waller. 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 186.60, any violation below will drag the pair to 185.40/184.50.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to sell on rallies around 188 with SL around 189 for the TP of 186.
