Major Intraday resistance -151.50
Intraday support- 150
GBPJPY has taken support near 200-H EMA and shown a nice recovery on a minor pullback in Pound sterling. The petrol shortage and Brexit concerns are preventing the pound sterling from further upside. GBPJPY hits an intraday high of 151.40 and is currently trading around 151.273.
USDJPY- Analysis
The pair has recovered after hitting a six-day low at 110.81. Any breach below 110.80 confirms intraday bearishness.
CCI Analysis-
The CCI (50) and Woodies CCI are trading above zero lines in 60 min chart. In Woodies CCI six consecutive bars above zero confirm the uptrend.
Technical:
The pair's immediate resistance is around 151.50, any surge above targets 151.80/152/152.60/153.50. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 150. Any indicative violation below targets 149/148.40/147.
Indicator (Hourly chart)
Directional movement index –Bullish
It is good to buy on dips around 151.10-15 SL around 150.60 for a TP of 152.58.
