GBPJPY consolidating in a narrow range between 163.56 and 160.80 for the past five days. The pound sterling declined sharply on board-based US dollar buying. The S&P Global/CIPS flash manufacturing PMI dropped to 46 in Aug compared to a forecast of 51.1. Investors expect the Bank Of England to double its interest rates by May as inflation hits 40-year high. Technically in the 4-hour chart, the pair is holding below short-term 21-EMA, 55 EMA, and below long-term 200 EMA (162.78). Any violation below 160.80 takes to the next level 160//159/158.GBPJPY hits an intraday high of 161.80 and is currently trading around 161.34.
The near-term resistance is around 162, a breach above targets 162.50/163/ 164.
Indicators (4-hour chart)
CCI (50) – Bearish
ADX- Neutral
It is good to sell on rallies around 161.75-80 with SL around 162.50 for TP of 159.


BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
FxWirePro: USD/ZAR retreats slightly but bias is bullish
FxWirePro: GBP/AUD under pressure as pound continues to weaken
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CAD edges lower but bullish outlook persists
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro- Major Crypto levels and bias summary
Crypto Bias Report: Trend Signals and Top Bullish Picks
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro:USD/JPY hovers near a four-decade low
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 



