GBPJPY pared some of its gains on the weak Pound sterling. It hit a high of 185.95 and is currently trading at around 184.91.
GBPUSD- Trend- Neutral
The pound sterling is trading weak for a second consecutive day on board-based US dollar buying. Markets eye the US Fed chairman and BOE Governor's speech today for further movement. The failure of the cease-fire agreement between Israel and Hamas has decreased demand for riskier assets. Any close above 1.24200 confirms further bullishness.
USDJPY- Bullish
The pair recovered above the 150.50 level despite hawkish comments from BOJ Ueda. The significant resistance is 152/153.
GBPJPY analysis-
The near-term resistance is around 186, a breach above targets 186.75/188.45 The immediate support is at 184.95, any violation below will drag the pair to 184.25/183.60/.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy at dips around 184.75-80 with SL around 184.20 for the TP of 188.
