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FxWirePro- GBPJPY Daily outlook

Major Intraday resistance -153.75

 

Intraday support- 152.50

 

GBPJPY recovered more than 40 pips on the strong Pound sterling. GBP regained sharply 1.3400 level on Brexit optimism. The talks on Friday on new negotiations are supporting pound sterling at lower levels. The intraday trend is still bearish as long as resistance 153.80 holds. It hits a high of 153.74 the previous week and is currently trading around 153.07.

 

 USDJPY- Analysis

The pair eases slightly after a jump till 114.30. it is struggling to breach the monthly high of 114.70. Any breach above 114.70 targets 115/116.

 

CCI Analysis-

The CCI (50) and Woodies CCI are holding below zero level in the 4-hour chart. This confirms the weak trend. Bearish trend confirmed.

 

Technical:

The immediate resistance is around 153.75, any break above targets 154.55/155. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is around 152.50. Any indicative violation below targets 152.18/151.60.

 

 Indicator (4-Hour chart)

 

Directional movement index –Bearish

 

It is good to sell on rallies around 153.25 with SL around 153.80 for a TP of 151.

 

 

 

 

 

 

 

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