FxWirePro- GBPJPY Daily Outlook

Short-term resistance -152

Intraday Support- 151

GBPJPY halted its two weeks of the bearish trend and showed a minor pullback on the weak yen. The pound sterling regained above 1.3100 against the US dollar after three days of big sell-off. The board-based buying in US dollar due to increase in demand for safe-haven assets. The intraday trend of GBPJPY is bullish as long as support 150.50 holds. GBPJPY hits an intraday high of 152.03 and is currently trading around 151.94.

 USDJPY- Analysis

The pair regained above 115 on weak Japan GDP numbers. The bullish trend continuation if it breaks 116.35.

 CCI Analysis-

The CCI (50) is above zero level in the 1 -hour chart.  Directional movement index shows buy signal. It confirms the bullish trend.

 Technical:

The immediate resistance is around 152, any break above targets 152.25/152.75/153.35/154. Significant bullish continuation if it breaks 155.30. On the lower side, near-term support is at 151. Any indicative violation below targets 150/149.

It is good to buy on dips around 151.75-80 with SL around 151 for a TP of 154.