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FxWirepro- GBPJPY Daily Outlook

GBPJPY lost its shine after the BOE monetary policy. It hit a low of 180.75 yesterday. It is currently trading at around 181.83

 

 GBPUSD- Trend- Bearish

 

The pound sterling dropped drastically on dovish BOE. The central bank kept its rates unchanged at 5.25% on easing inflation. The Bank of England revised GDP to 0.10% from 0.40%. UK retail sales jumped to 0.40% in August, from -1.1% the previous month.

 

 

USDJPY- Bullish

 

 The pair recovered above 148 as BOJ kept the policy status quo. The significant resistance is 148.50/150.

 

 GBPJPY analysis-

 

 The near-term resistance is around 182.50, a breach above targets 183.35/183.85/184.60/185. The immediate support is at 180.70, any violation below will drag the pair to 180/176.50.

 

  Indicators (4-hour chart)

 

  CCI (50)- Bearish

 

  ADX- bearish

 

  It is good to sell on rallies around 182.55-60 with SL around 183.35 for the TP of 180.

 

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