GBPJPY surged sharply and gained more than 500 pips on a sharp u-turn in the Japanese yen. The minor pullback in pound sterling also supports the pair at lower levels. It has pared some of its gains made yesterday as weak economic data will prevent BOE from an aggressive rate hike. Any breach above 1.2430 confirms a minor bullish trend. Technically in the 4-hour chart, the pair is holding above short term (21- and 55 EMA) and above 200 MA (161.80). Any close above 165.80 will take the pair to 166.70/167.80/168.85. GBPJPY hits an intraday high of 165.55 and is currently trading around 165.11.
The near-term support is around 163.90, any breach below targets 163/162.60/161.75.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to buy on dips around 164 with SL around 163 for TP of 167.80/168.80.


BTC Craters Below All Key EMAs: $2.63B ETF Selloff Triggers 'Sell on Rallies' to $67K
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85
FxWirePro: USD/JPY upside capped as intervention risk limit upside
NZD/JPY Springs Off 38.2% Fib Support: Triple EMA “Buy the Dip” Setup Eyes 96.15–97
FxWirePro: GBP/AUD recovers some ground, geopolitics holds center stage
ETH Cracks $2,000: $241M Institutional Exodus From Spot ETFs Sends Bears Hunting $1,700
FxWirePro: USD/CAD bulls continue to hold the higher ground
ETH Cracks Below $2K: $241M ETF Selloff Sparks 14-Day Exodus as Bears Target $1,700
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data
FxWirePro: GBP/NZD extends decline , vulnerable to more downside
FxWirePro: USD/JPY remains in familiar place on intervention threat
FxWirePro- Woodies pivot (Major)
FxWirePro: EUR/AUD holds narrow range, focus on near-term Support
FxWirePro: AUD/USD eases amid uncertainty over the U.S.–Iran standoff
FxWirePro: GBP/NZD recovers some ground but bearish outlook persists 



