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FxWirepro- GBPJPY Daily Outlook

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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