GBPJPY trades flat after a minor pullback of more than 500 pips. It hits a low of 160.98 and is currently trading around 161.29.
GBPUSD- Trend- Bearish
The pound sterling showed a decline after upbeat US retail sales data for further direction. It grew by 3% in Jan monthly, well above expectations of 1.9%. Core retail sales jumped by 2.3%, from -0.90% the previous month expected. Any daily close below 1.200 will drag the pair to 1.
USDJPY- Bearish
The pair gets exhausted after three days of the rally. Markets eye US PPI data for further direction. Major resistance is 134.80/136.
GBPJPY analysis-
The near-term support is around 160.70, a breach below targets of 160/159/158/156.70/155.60/155. The immediate resistance is at 162.20, any violation above will take the pair to 163/165.
Indicators (4-hour chart)
CCI (50) –bullish
ADX- Neutral
It is good to buy on dips around 161 with SL around 160 for a TP of 163.


BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
FxWirePro: USD/ZAR retreats slightly but bias is bullish
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: USD/CAD edges lower but bullish outlook persists
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD under pressure as pound continues to weaken
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption 



