Major Intraday resistance -149.75
Intraday support- 149
GBPJPY has declined sharply after a pullback above 150 level on board-based Japanese Yen buying. It hits an intraday high of 149.74 and is currently trading around 149.37. The intraday trend of GBPJPY is bearish as long as resistance 150.20 holds.
USDJPY- Analysis
The pair is trading well below 110 levels in global market turmoil. The intraday trend is bearish as long as resistance 109.67 holds.
CCI Analysis-
Both CCI (50) and Woodies CCI is below zero lines in 15 min. In Woodies CCI only 3 bars below zero. So bearish trend not confirmed.
Technical:
The pair's immediate resistance is around 149.75, any surge above targets 150.20/150.80/151.30. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 149. Any indicative violation below targets 148.40/148/147.40.
Indicator (15 min chart)
Directional movement index –Bearish
It is good to sell on rallies at 149.45-50 with SL around 150 for a TP of 148.
