GBPJPY pared some of its gains on the strong yen. It hits an intraday low of 160.76 and is currently trading around 160.76.
GBPUSD- Trend- Bearish
The pound sterling gained yesterday after BOE Chairman Bailey said that the central bank would focus on inflation for monetary policy decisions despite the banking crisis. Any close above 1.2350 will pull the pair to 1.2400.
USDJPY- Bearish
The pair declined slightly after hitting a high of 131.75 on board-based US dollar selling. Major support is 130.50/129.
GBPJPY analysis-
The near-term support is around 160.70, a breach below the targets of 159.75/158.95/158.50. The immediate resistance is at 161.20, any violation above will take the pair to 161.85/162.20.
Indicators (4-hour chart)
CCI (50)- Neutral
ADX- Neutral
It is good to sell on rallies around 161.45-50 with SL around 162.25 for a TP of 159.


FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro- Major European Indices
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 



