FxWirePro- GBPJPY Daily Outlook

Short-term resistance -153.30

Intraday Support- 152.30

GBPJPY traded higher for the third consecutive day and surged more than 200 pips. The easing geopolitical tension between Russia and Ukraine has decreased demand for safe-haven assets like the yen. GBP holds above 1.31500 against the US dollar. Any breach above 1.3220 confirms further bullishness. Markets eye Russia and Ukraine peace talks for further direction. The intraday trend of GBPJPY is bullish as long as support 150.50 holds. GBPJPY hits an intraday high of 152.99 and is currently trading around 152.43.

 USDJPY- Analysis

The pair regained above 116 on de-escalation of tension between Russia and Ukraine. The bullish trend continuation if it breaks 116.35.

 CCI Analysis-

The CCI (50) is below zero level in the 4 -hour chart.  The directional movement index shows the neutral trend. It confirms the neutral trend.

 Technical:

The immediate resistance is around 153.30, any break above targets 154/155.30. Significant bullish continuation if it breaks 155.30. On the lower side, near-term support is at 152.30. Any indicative violation below targets 150/149.

It is good to buy above 153.30 with SL around 152.30 for a TP of 155.