Intraday Bias- Neutral
GBPJPY consolidating between 191.92 and 189.50 this week. It hit a low of 190.49 at the time of writing and is currently trading around 190.67.
Technicals-
The pair trades below 34- and 55 EMA in the hourly chart.
The near-term resistance is around 190.90 a breach above targets 191.25/191.50/192—major trend continuation only above 192.05. The immediate support is at 190.49, any violation below will drag the pair to 190/189.48/188.90.
Indicator (hourly chart)
CCI (14)- Bearish (above 100)
CCI (50)- Bearish (below 100)
Average directional movement Index - Neutral (strength below 20). All indicators confirm the mixed trend.
It is good to wait for confirmation.
