GBPJPY pared some of its gains ahead of Super Thursday. It hit a low of 183.09 at the time of writing and is currently trading at around 183.13.
GBPUSD- Trend- Bearish
The pound sterling trades flat ahead of BOE monetary policy. Markets eye BOE's vote spilled and economic forecasts for further direction. FOMC has kept its rates unchanged at 5.50% as expected. It has maintained the current pace of QT. The central bank said that inflation is elevated and has kept doors open to hike rates depending on economic developments. Any close above 1.2200 confirms further bullishness.
USDJPY- Bullish
The pair lost its shine despite hawkish Fed policy. The significant resistance is 152/153.
GBPJPY analysis-
The near-term resistance is around 184.50, a breach above targets 185/186. The immediate support is at 182.80, any violation below will drag the pair to 182/181.40/180.70.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to buy at dips around 183 with SL around 182.40 for the TP of 185.
