GBPJPY showed a minor pullback after a massive sell-off. It hit a low of 178.03 and is currently trading at around 180.67.
GBPUSD- Trend- Bearish
The pound sterling recovered more than 100 pips from a multi month low of 1.20371. US private sector employment rose 89000 in Sep, compared to a forecast of 154000. US ISM services PMI rose 53.6 in Sep vs .estimate of 53.50. Any close above 1.2150 confirms further bullishness.
USDJPY- Bullish
The pair pared some of its gains on easing US treasury yield. The significant resistance is 150/152.
GBPJPY analysis-
The near-term resistance is around 181.50, a breach above targets 182.50/183.35/183.85/184.60/185. The immediate support is at 179.50, any violation below will drag the pair to 178/176.50.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to sell on rallies around 181.50-55 with SL around 182.50 for the TP of 176.50.
