GBPJPY is trading flat despite the strong UK PMI. It hit a high of 187.65 yesterday and is currently trading at around 187.236.
GBPUSD- Trend- Neutral
The pound sterling jumped more than 50 pips after upbeat UK PMI. UK Services and manufacturing showed a minor uptick in Nov at 46.7 and 50.10 respectively. Markets eye US flash manufacturing and services PMI for further direction. Any close above 1.2570 confirms further bullishness.
USDJPY- Bullish
The pair lost its shine on easing US treasury yield. The significant resistance is 152/153.
The near-term resistance is around 188.25, a breach above targets 189.20/190. The immediate support is at 187, any violation below will drag the pair to 186.50/185.40
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 187 with SL around 186.40 for the TP of 189.
