GBPJPY recovered sharply on the weak yen. It hit a high of 182.62 at the time of writing and is currently trading at around 182.58.
GBPUSD- Trend- Bearish
The pound sterling is consolidating in a narrow range between 1.21622 and 1.20693 for the past three days. The improvement in risk appetite has pushed pound sterling prices slightly higher. Market eyes developments in the Middle East for further direction. Any close above 1.2200 confirms further bullishness.
USDJPY- Bullish
The pair jumped above the 150 level after the dovish BOJ monetary policy. The significant resistance is 151/152.
GBPJPY analysis-
The near-term resistance is around 182.75, a breach above targets 183.25/184/184.60/185/186. The immediate support is at 182, any violation below will drag the pair to 181.40/180.70/178/176.50.
Indicators (4-hour chart)
CCI (50)- Neutral
ADX- bearish
It is good to buy on dips around 181.55-60 with SL around 180.70 for the TP of 185.
