FxWirePro- GBPJPY Daily Outlook

Short-term resistance -157

Intraday Support- 155

GBPJPY trading higher for second consecutive days on the strong Pound sterling. GBP gained despite UK political uncertainty and Brexit jitter. UK Public accounts committee recent report showed that "Brexit has had a clear impact on trader with EU. Any breach above 1.3600 confirms further bullishness. The intraday trend of GBPJPY is bullish as long as support 155 holds. GBPJPY hits a high of 156.719 and is currently trading around 156.54.

 USDJPY- Analysis

The pair gained above 115.50 on surging US Treasury yields. The intraday bullishness if it breaks 115.70.

 CCI Analysis-

The CCI (50) and Woodies CCI hold above zero levels in the 4 -hour chart. It confirms the bullish trend.

 Technical:

The immediate resistance is around 156.70, any break above targets 157/157.75/158.50. Significant bullish continuation if it breaks 158.50. On the lower side, near-term support is at 155.50. Any indicative violation below targets 155/154/153/151.95/150.

 Indicator (4-Hour chart)

Directional movement index –Neutral

It is good to buy on dips around 156 with SL around 155 for a TP of 158.50.