FxWirePro- GBPJPY Intra day trade idea (first update)

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.