Major Intraday resistance -152.60
Intraday support- 150.80
GBPJPY recovered more than 100 pips on Japanese Yen weakness. The minor decline in Pound sterling against the US dollar on Brexit concerns preventing the pair from further upside. Markets eye US Nonfarm payroll for further direction. GBPJPY hits an intraday high of 153.35 and is currently trading around 152.189.
USDJPY- Analysis
The pair regained from a low of 110.81 on surging US treasury yield. Any breach above 112.25 confirms bullish continuation.
CCI Analysis-
The CCI (50) and Woodies CCI are not showing a bullish trend. ). In Woodies CCI six consecutive bars above zero (bullish trend).
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 151.50. Any indicative violation below targets 151/150.70/150/149.20.
Indicator (Hourly chart)
Directional movement index –Bullish
It is good to buy on dips around 151.55-60 SL around 151 for a TP of 153.
