FxWirePro- GBPJPY Daily Outlook
GBPJPY hits a fresh seven-year high on strong Pound sterling. It hits an intraday high of 176.88 and is currently trading around 176.754
GBPUSD- Trend- Bearish
The pound sterling climbed sharply after weak US inflation data.US core CPI rose 4% in May from 4.9% in Apr, the lowest level since Mar 2021 in Apr. US May inflation rate at 0.10% (MoM) Vs Est 0.30%. This has increased the chance of a rate pause by the Fed in the coming months. The policy divergence between US Fed and BOE pushed the GBP prices higher. Any break above 1.2630 confirms further bullishness.
USDJPY- Bullish
The pair trades above the 140 level despite weak US CPI. Significant Resistance is 141/143.
GBPJPY analysis-
The near-term support is around 176.50, a breach below targets 175.80/175/174.70. The immediate resistance is at 177, any violation above will take the pair to 178/180.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- Bullish
It is good to buy on dips around 176 with SL around 174.70 for a TP of 180.


BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/ZAR edges higher but bearish outlook persists
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major European Indices
FxWirePro- Major Pair levels and bias summary
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 



