GBPJPY trading weak for the past three consecutive days on the weak pound sterling. It hits an intraday high of 161.95 and is currently trading around 161.99.
GBPUSD- Trend- Bullish
The pound sterling showed a minor pullback after a massive sell-off. The policy divergence between the US fed and BOE puts pressure on the pair at higher levels. Any close below 1.1800 will pull the pair to 1.1700.
USDJPY- Bullish
The pair pared some of its gains on profit booking. Major resistance is 138/140.
GBPJPY analysis-
The near-term support is around 161.70, a breach below the targets of 161/160. The immediate resistance is at 162.50, any violation above will take the pair to 163.25/164/165/166/167.01.
Indicators (4-hour chart)
CCI (50) –Bearish
ADX- Bearish
It is good to sell on rallies around 162.45-50 with an SL of 163.20 for a TP of 160.


FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro: USD/CAD edges lower but bullish outlook persists
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Major Crypto levels and bias summary
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118
FxWirePro: USD/ZAR retreats slightly but bias is bullish 



