GBPJPY has traded in a narrow range between 162.86 and 163.93 for the past two days. It hits a low of 163.06 yesterday and is currently trading around 163.42.
GBPUSD- Trend- Bullish
The pound sterling showed a minor pullback after mixed Fed talks. Federal Bank of Atlanta President Bostic said that the central bank will pause the rate hike by mid to late summer. On the other hand, Boston Fed President Susan supports further rate tightening to tackle inflation. Any close below 1.1900 will drag the pair down to 1.1800.
USDJPY- Bullish
The pair struggles to close above 200-day MA despite surging US bond yields. Major resistance is 137.15/138.
GBPJPY analysis-
The near-term support is around 163.50, a breach below targets of 162.80/162/161. The immediate resistance is at 164.50, any violation above will take the pair to 165/166/167.01.
Indicators (4-hour chart)
CCI (50) –Bullish
ADX- Neutral
It is good to buy on dips around 163.50 with SL around 162.50 for a TP of 165/166.


FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm
FxWirePro:GBP/NZD recovers ground after early dip, bias bullish
NZDJPY: Sell the Rallies as Bears Guard 90–91 Resistance Zone
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD steadies ahead of ECB meeting
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/JPY catches bid ahead of BoJ meeting
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
FxWirePro: NZD/USD dips as stronger U.S. dollar offsets NZ Q3 GDP surprise
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption 



