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FxWirepro- GBPJPY Daily Outlook

    
GBPJPY trades higher for the second consecutive day on board-based Pound sterling buying. It hit a high of 183.11 and is currently trading at around 182.98.

 GBPUSD- Trend- Bearish

The pound sterling hits a multi-week high on easing US treasury yields. Markets eyes US PPI and FOMC meeting minutes data today for further direction. Any close above 1.2300 confirms further bullishness.
 

USDJPY- Bullish

 The pair pared some of its gains on safe-haven demand. The significant resistance is 150/152.
     
 GBPJPY analysis-
 
 The near-term resistance is around 183, a breach above targets 183.35/183.85/184.60/185. The immediate support is at 182.50, any violation below will drag the pair to 181.50/180.70/178/176.50.
 
  Indicators (4-hour chart)
 
  CCI (50)- Bearish
 
  ADX- Neutral
 
  It is good to sell on rallies around 183 with SL around 184 for the TP of 178/176.50.


 

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