GBPJPY trades higher for the second consecutive day on the weak yen. It hits an intraday high of 167.28 and is currently trading around 166.83.
GBPUSD- Trend- Bullish
The cable showed a minor decline after hitting a 5-month high of 1.2345. The latest S&P global/CIPS index came at 48.8 in Nov in line with the estimate, a decline below 50 for the second consecutive day. Any close below 1.2130 confirms further bearishness.
USDJPY- Bearish
The pair surged more than 300 pips after dovish comments from BOJ governor Kuroda. The easing Covid restrictions in China put pressure on safe-haven assets like the yen. It hits a high of 137.17 and is trading around 136.96. Any daily close above 137.55 confirms further bullishness. Minor support is 133.60/131.65.
GBPJPY analysis-
The near-term support is around 166, a breach below targets 165/164/163. The immediate resistance is around 167.50, a jump above will take the pair to 169.10/170.
Indicators (4-hour chart)
CCI (50) – Bearish
ADX- Bearish
It is good to buy on dips around 166.30-35 with SL 165 for a TP of 169


Crypto Bias Report: Trend Signals and Top Bullish Picks
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: USD/CNY edges higher but bulls lack punch
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Woodies pivot (Major)
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro:USD/JPY hovers near a four-decade low
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro- Woodies pivot (Major)
BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: GBP/NZD gains some ground but outlook is bearish
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks 



