Major Intraday resistance -152.60
Intraday support- 151.70
GBPJPY has halted its four days of the bullish trend and shown a minor profit booking. The minor weakness in the pound sterling against the US dollar is putting pressure on this pair at a higher level. The hawkish comments from Bank of England Governor Bailey are preventing further downside. GBPJPY hits an intraday low of 151.98 and is currently trading around 152.06. The intraday trend of GBPJPY is bullish as long as support 150.69 holds.
USDJPY- Analysis
The pair breaks significant resistance 110.80 after a long consolidation. It should close above 111.65 for major bullishness.
CCI Analysis-
The CCI (50) and Woodies CCI is trading below zero lines in 60 min chart. So the trend for the intraday is not confirmed.
Technical:
The pair's immediate resistance is around 152.60 any surge above targets 153/153.50. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 151.70. Any indicative violation below targets 151.20/ 150.69/150.
Indicator (Hourly chart)
Directional movement index –Neutral
It is good to buy on dips around 151.75-80 SL around 151.30 for a TP of 153.50.
