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FxWirePro- GBPJPY Daily Outlook

GBPJPY lost its shine on the strong yen. It hit a low of 186.61 at the time of writing and is currently trading at around 186.86.

 

 GBPUSD- Trend- Bullish

 

The pound sterling pared some of its gains on board-based US dollar selling. US CB consumer confidence rose to 102 in  Nov, compared to a forecast of 101. Richmond manufacturing activity slowed in Nov to -5 vs. Estimate 1.  Market eyes US prelim GDP  for further direction. Any close above 1.2730 confirms further bullishness.

 

 

USDJPY- Bearish

 

 The pair declined more than 300 pips after dovish comments from Fed Waller. The significant support is 147/145.

 

 The near-term resistance is around 188.65, a breach above targets 189.20/190. The immediate support is at 186.60, any violation below will drag the pair to 185.40/184.50.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bearish

 

  ADX- Neutral

 

  It is good to sell on rallies around 188 with SL around 189 for the TP of 186.

 

 

 

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