GBPJPY breaks significant resistance at 166.40 and surged to 166.83 on the strong pound sterling. It has shown a minor retracement ahead of the UK autumn budget. Any close above 1.1950 confirms further bullishness; a jump to 1.2000/1.2100 is possible. Technically in the 4-hour chart, GBPJPY holds above 21-EMA, 55- EMA, and long-term 200 EMA (166.19). Any convincing close above 166.85 will take it to the next level 167.61/168.50. GBPJPY hits an intraday high of 166.68 and is currently trading around 166.56.
The near-term support is around 165, a breach below targets 164.40/163.65/163.
Indicators (4-hour chart)
CCI (50) – Bullish
ADX- Neutral
It is good to buy on dips around 166 with SL 165 for a TP of 168.


FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
FxWirePro- Major Crypto levels and bias summary
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: NZD/USD downside pressure builds, key support level in focus
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro- Major European Indices
FxWirePro- Woodies Pivot(Major) 



