GBPJPY recovered sharply on the strong pound sterling. It hits an intraday high of 161.63 and is currently trading around 161.55
GBPUSD- Trend- Bullish
With hopes of stimulus from UK PM Rushi Sunak and board-based US dollar buying Pound sterling gained above the 1.2400 level. Downbeat UK inflation followed by a weak UK jobs report will decrease the chance of a rate hike by the BOE. Any daily close above 1.2450 will take the pair to 1.2500.
USDJPY- Bearish
The pair consolidated in a narrow range between 129.04 and 130.31 for the past two days. Major supports are 129/127.20/125.
GBPJPY analysis-
The near-term support is around 160, a breach below targets of 158.50/157.50/156. The immediate resistance is around 161.50, any violation above will take the pair to 163/164.
Indicators (4-hour chart)
CCI (50) –bullish
ADX- Bullish
It is good to buy on dips around 161 with SL around 160 for TP of 163.


FxWirePro: GBP/AUD downside pressure builds, key support level in focus
Pound-Yen Roars Back Above 214: Bulls Reload for 216–217 Charge on Dip-Buying Setup
FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key
FxWirePro- Major Crypto levels and bias summary
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates
NZDJPY Dips to 95.10: Bulls Buy the Pullback as Key 93.50 Support Keeps Uptrend Intact
FxWirePro: EUR/ NZD dips below lower range, bearish bias increases
FxWirePro: USD/JPY edges higher but bulls lack punch
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85
FxWirePro: USD/CNY bears maintain upper hand 



