Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirepro- GBPJPY Daily Outlook

GBPJPY pares most of its gains on the weak Pound sterling. It hit a low of 181.10 yesterday and is currently trading at around 182.

 

 GBPUSD- Trend- Bearish

 

The pound sterling declines to a multi-week low on board-based US dollar buying. The escalation of war between Israel and Hamas has increased demand for safe-haven assets like the US dollar. Markets eye ECB monetary policy, and US advance GDP for further direction. Any close below 1.2050 confirms further bearishness.

 

 

USDJPY- Bullish

 

 The pair surged above 150 and hit a multi-year high on strong US treasury yields. The significant resistance is 152/153.

 

 GBPJPY analysis-

 

 The near-term resistance is around 182.40, a breach above targets 182.75/183.25/184/184.60/185/186. The immediate support is at 181.40, 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 182.25-30 with SL around 183 for the TP of 178/176.50.

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.