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FxWirePro- GBPJPY Daily Outlook

GBPUSD- Trend- Bullish

 

The pound sterling has been weak for the past four days on board-based US dollar buying. US private sector employment increased by 103000 jobs in Nov, below expectations of 131000.UK construction PMI dropped to 45.5 in Nov, compared to a forecast of 46.30. Any close below 1.2500 confirms further bearishness.

 

USDJPY- Bearish

 

 The pair lost its shine after weak US  private sector jobs data..The significant support is 146.50/145.

 

GBPJPY

 

The near-term resistance is around 184.50 a breach above targets 185.60/186.20. The immediate support is at 183.50, any violation below will drag the pair to 182.40/181.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bearish

 

  ADX- Bearish

 

  It is good to sell on rallies around 185 with SL around 186 for the TP of 182.

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