|   Technicals


  |   Technicals


FxWirePro: GBPJPY Daily outlook

Major Intraday resistance -157.50


Intraday support- 156.40


GBPJPY is a trading firm above 157 level on the strong pound sterling. The Brexit optimism and increased hopes of a rate hike by BOE are pushing GBP higher against USD. Any breach above 1.3800 confirms further bullishness.GBPJPY hits a high of 157.29 and is currently trading around 157.09


USDJPY- Analysis

The pair consolidating after hitting a high of on declining US treasury yield. The intraday support is around 113.80.


CCI Analysis-

The CCI (50) is holding above zero level, but Woodies CCI is below 100 level. It shows that the bullish trend got exhausted.



The pair is holding above 157.50, a jump till 160/162. Significant bullish continuation if it breaks 162. On the lower side, near-term support is around 156.40. Any indicative violation below targets 155.75/155.55/155.


 Indicator (4-Hour chart)


Directional movement index –Bullish


It is good to buy on dips around 156.40 SL around 155.75 for a TP of 158.





  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.