GBPJPY breaks significant resistance of 186 after a long consolidation on a weak yen. It hit a high of 186.32 yesterday and is currently trading at around 186.15.
GBPUSD- Trend- Neutral
The pound sterling is consolidating ahead of the UK Claimant . Any decline in UK jobless claims will push the pound sterling higher. Markets await US CPI data for further direction this week. The analyst expects a headline CPI to have risen to 0.1% from 0.30%. The annual inflation to fall 3.3% from the previous month's 3.7%. Any close above 1.2300 confirms further bullishness.
USDJPY- Bullish
The pair trades flat ahead of US CPI data. The significant resistance is 152/153.
GBPJPY analysis-
The near-term resistance is around 186.40, a breach above targets 186.75/188.45 The immediate support is at 184.95, any violation below will drag the pair to 184.25/183.60/.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy at dips around 185.78-80 with SL around 184.90 for the TP of 188.
