GBPJPY Intra day trade idea (US session)

Intraday bias - neutral

Technicals-

The pair is trading below 34- and 55 EMA in the hourly chart. The resumption of a major downtrend will happen if it breaks below 188.

The near-term resistance is around 189.20, a breach above targets 189.50/190/190.50/191.20. The immediate support is at 188, any violation below will drag the pair to 187.35/186.60.

Indicator (hourly chart)

CCI (14)-  Bearish

CCI (50)- Bearish

Average directional movement Index - neutral.

All indicators confirm the mixed trend.

It is good to buy on dips around 188.28-30 with SL around 187.70 for TP of 189.20/189.50.