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FxWirepro- GBPJPY Daily Outlook

GBPJPY showed a nice pullback on the strong Pound sterling. It hit a high of 183.75 at the time of writing and is currently trading at around 183.30.

 

 GBPUSD- Trend- Bearish

 

The pound sterling jumped slightly after mixed UK employment data. The ILO unemployment rate declined slightly to 4.2%  in the quarter to Aug, compared to a forecast of 4.30%. The number of people who have filed for unemployment benefits jumped by 20.4K in Sep vs. an Estimate 2.3K. Any close above 1.2350 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 184, a breach above targets 185/185.85/186.75. The immediate support is at 183, any violation below will drag the pair to 182.50/181.30.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bullish

 

  ADX- Bullish

 

  It is good to buy on dips around 183.25-30 with SL around 182.50 for the TP of 186.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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