GBPJPY pared most of its gains made yesterday. Pound sterling lost its shine against the US dollar after Putin announced more troops for Ukraine. Any breach below 1.13000 confirms a bearish continuation. Technically 4-hour chart holds below short-term 55-EMA, 21 EMA, and long-term 200 EMA (163.53). Any decline below 162 will take the pair to the next level 160.80/159. GBPJPY hits an intraday high of 162.31 and is currently trading around 162.915.
The near-term resistance is around 163.50, a breach above targets 164.50/165/166.35/167/168/168.70.
Indicators (4-hour chart)
CCI (50) – Bearish
ADX- Bearish
It is good to sell on rallies around 163.95-164 with SL around 165 for TP of 160.60.


FxWirePro: USD/JPY dips as yen strengthens ahead of BOJ policy meeting
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro- Major Pair levels and bias summary
ETHUSD Dips Below $3000 on BOJ Rate Hike Fears: Buy the Dip at $2700, Targeting $4000?
FxWirePro- Major European Indices
FxWirePro: USD/ZAR attracts selling interest, could be on verge of a bigger drop
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro: NZD/USD weakens as RBNZ quashes rate hike talk
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
EUR/JPY Retreats: Yen Strength Caps Rally, Bearish Bias Intact Below 183.15
FxWirePro- Woodies Pivot(Major)
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD downside pressure builds, key support level in focus
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro: USD/CAD pauses decline,critical support lies ahead 



