FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(EURUSD and GBPJPY) for the day
FxWirePro- GBPJPY Daily Outlook
GBPJPY regained more than 150 pips on a minor pullback in Pound sterling. It showed the biggest single-day fall yesterday on Brexit North Ireland Protocol jitters and risk aversion. Any breach below 1.2300 confirms intraday bearishness. GBPJPY hits an intraday low of 157.88 and is currently trading around 159.60.
USDJPY trades weak on board-based US dollar selling. The intraday bearishness is only below 128.50.
On the lower side, immediate support is around 159, breach below will drag the pair to the next level to 157.85/157/155. The minor resistance to be watched is 162, a break above that level confirms intraday bullishness, and a jump to 164.25/165 is possible.
It is good to sell on rallies around 160.45-50 with SL around 162 for the TP of 157.