GBPJPY pared some of its gains amid geopolitical tension. It hit a high of 182.97 and is currently trading at around 181.94.
GBPUSD- Trend- Bearish
The pound sterling pared some of its gains on a minor US dollar pullback. The US dollar index benefited from safe-haven flows due to the escalation of tension between Israel and Hamas. Markets eye developments in the war between the two nations for further direction. Any close above 1.2275 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 182.20, a breach above targets 183/183.35/183.85/184.60/185. The immediate support is at 180.70, any violation below will drag the pair to 180/178/176.50.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to sell on rallies around 182 with SL around 183 for the TP of 178/176.50.
