GBPJPY lost its shine after the BOE monetary policy. It hit a low of 180.75 yesterday. It is currently trading at around 181.83
GBPUSD- Trend- Bearish
The pound sterling dropped drastically on dovish BOE. The central bank kept its rates unchanged at 5.25% on easing inflation. The Bank of England revised GDP to 0.10% from 0.40%. UK retail sales jumped to 0.40% in August, from -1.1% the previous month.
USDJPY- Bullish
The pair recovered above 148 as BOJ kept the policy status quo. The significant resistance is 148.50/150.
GBPJPY analysis-
The near-term resistance is around 182.50, a breach above targets 183.35/183.85/184.60/185. The immediate support is at 180.70, any violation below will drag the pair to 180/176.50.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- bearish
It is good to sell on rallies around 182.55-60 with SL around 183.35 for the TP of 180.
