GBPJPY pared some of its gains after weak US CPI data. The pair lost its shine on the strong yen. US dollar tumbled sharply against all majors especially Pound sterling preventing the pair from further downside. Technically in the 4-hour chart, the pair is holding below short-term 21-EMA, 55 EMA, and long-term 200 EMA (163.38). Any violation above 162.80 will take the pair to the next level 163.65/164. GBPJPY hits an intraday low of 161.68 and is currently trading around 162.13.
The near-term support is around 161.50, a breach below targets 161/160/159.
Indicators (4-hour chart)
CCI (50) – Bearish
ADX- Bearish
It is good to sell on rallies around 162.30-35 with SL around 163 for TP of 160.


FxWirePro: GBP/NZD remains bullish as rally continues
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
FxWirePro- Woodies Pivot(Major)
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR bears maintain upper hand
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro- Major European Indices 



