GBPJPY lost its shine on the strong yen. It hit a low of 184.06 and is currently trading around 184.678.
GBPUSD- Trend- Bearish
The pound sterling showed a mild recovery towards 1.26500 on the board-based US dollar weakness. edges towards 1.2650 on board-based US dollar weakness. US consumer sentiment declined in August to 106.10, compared to a forecast of 116. Any break above 1.2660 confirms further bullishness.
USDJPY- Neutral
The pair dropped more than 100 pips on easing US treasury yield. The significant resistance is 147.40/148.
GBPJPY analysis-
The near-term resistance is around 185, a breach above targets 186.50/187/188.50. The immediate support is at 183.45, any violation below will drag the pair to 183/182.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- neutral
It is good to stay away.
