GBPJPY lost its shine on the weak Pound sterling. It hit a low of 185.51 at the time of writing and is currently trading at around 186.10.
GBPUSD- Trend- Bullish
The pound sterling pared most of its gains as demand for riskier assets declined. The renewed Geo political tension between Israel and Hamas supports the US dollar at lower levels. Any close below 1.2600 confirms further bearishness.
USDJPY- Bearish
The pair trades weak on dovish-fed expectations. The significant support is 146.50/145.
GBPJPY
The near-term resistance is around 186.20, a breach above targets 186.60/187.50/188.65. The immediate support is at 185, any violation below will drag the pair to 184.50/183.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 186 with SL around 187 for the TP of 184.
