FxWirepro- GBPJPY Daily Outlook
GBPJPY lost its shine on board based US dollar buying. It hit a low of 182.44 at the time of writing and is currently trading around 182.84.
GBPUSD- Trend- Bearish
The pound sterling hits a multi-month low amid UK inflation. UK CPI softens to 6.7% YoY in Aug, 7.1% expected. Every month, inflation rose 0.30% in August, below expectations of 0.70%. Any break below 1.2320 confirms further bearishness.
USDJPY- Bullish
The pair hovering near a multi-month high ahead despite the easing US treasury yield. The significant resistance is 148/150.
GBPJPY analysis-
The near-term resistance is around 183.35, a breach above targets 183.85/184.60/185. The immediate support is at 182.40, any violation below will drag the pair to 182/180.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- bearish
It is good to sell on rallies around 183.35-40 with SL around 184.25 for the TP of 180.
