GBPJPY trades higher for the second consecutive day on board-based Pound sterling buying. It hit a high of 183.11 and is currently trading at around 182.98.
GBPUSD- Trend- Bearish
The pound sterling hits a multi-week high on easing US treasury yields. Markets eyes US PPI and FOMC meeting minutes data today for further direction. Any close above 1.2300 confirms further bullishness.
USDJPY- Bullish
The pair pared some of its gains on safe-haven demand. The significant resistance is 150/152.
GBPJPY analysis-
The near-term resistance is around 183, a breach above targets 183.35/183.85/184.60/185. The immediate support is at 182.50, any violation below will drag the pair to 181.50/180.70/178/176.50.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to sell on rallies around 183 with SL around 184 for the TP of 178/176.50.
