GBPJPY regained above 170 on the weak yen. The yen lost more than 100 pips against the USD as BOJ has not taken any action to support the yen's strengthening. The minor sell-off in the pound sterling prevented GBPJPY from further upside. Any violation below 1.1500 confirms further bearishness, a jump to 1.1400 is possible. Technically in the 4-hour chart, GBPJPY holds above short-term 21-EMA, 55- EMA, and long-term 200 EMA (165.03). Any convincing close above 170 will take the pair to the next level 172/175. GBPJPY hits an intraday high of 170.40 and is currently trading around 170.25.
The near-term support is around 168.75, a breach below targets 168.25/167.40.
Indicators (4-hour chart)
CCI (50) – Bullish
ADX- neutral
It is good to buy on dips around 169.50-55 with SL around 168.75 for a TP of 172.


NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00
FxWirePro: USD/ZAR attracts selling interest, could be on verge of a bigger drop
FxWirePro: USD/CAD pauses decline,critical support lies ahead
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro- Major European Indices
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro: NZD/USD downside pressure builds, key support level in focus
FxWirePro: USD/JPY slips as yen gains ahead of BOJ meet
FxWirePro: NZD/USD weakens as RBNZ quashes rate hike talk
FxWirePro- Major European Indices
FxWirePro- Woodies Pivot(Major)
Yen Strikes Back: AUD/JPY Retreats as BOJ Policy Looms – Sell on Rallies to 100
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level 



