GBPJPY lost its shine and declined more than 400 pips on the strong yen. It hit a low of 186.43 at the time of writing and is currently trading at around 186.77.
GBPUSD- Trend- Bullish
The pound sterling trades flat ahead of US PCE data.BOE governor Bailey said that the central bank will take necessary actions to bring down inflation to 2%. Any close above 1.2735 confirms further bullishness.
USDJPY- Bearish
The pair trades weak ahead of US PCE 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 186.40, any violation below will drag the pair to 185.40/185.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 188 with SL around 189 for the TP of 186.
