FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Major Crypto levels and bias summary 
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: GBP/USD dips lower on negative UK retail sales data 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact 
The GBP/JPY currency pair sharply declined due to the weakness of the Pound sterling, reaching a low at 194.19 and currently trading around 194.90. Traders are eyeing a Potential Reversal Zone (PRZ) set at 200.20, indicating a possible price reversal around that level.
Manufacturing PMI Impact
In December 2024, the UK Manufacturing PMI fell to 47.0, highlighting a significant decline in manufacturing activity. This decrease stems from reduced production and a sharp decline in new orders, largely influenced by weaker European demand. Export sales saw their fastest drop since October 2023, while purchasing prices sharply increased. Employment also fell for the second consecutive month, reflecting ongoing struggles within the sector. Manufacturers are feeling extremely pessimistic, marking the lowest sentiment in two years due to weak demand and economic pressures.
Technical Outlook for GBP/JPY
GBP/JPY is trading below both short-term and long-term moving averages on the 4-hour chart, suggesting an overall downward trend. Immediate resistance is at 195.35; a break above this level could lead to targets around 196, 198, 199, or even 200.20. On the downside, support is encountered at 196.30, with additional levels at 195.70, 195, 194.10, and 193.
Trading Strategy Recommendations
The CCI (50) and Directional Movement Index are both bearish. With the current indicators, a strategy to consider is selling on rallies around the 195.48-50 mark, with a stop-loss set at approximately 196.58 and a take-profit target at 190.
