GBPJPY declined sharply on weak Pound sterling. It hits a low of 179.99 and is currently trading around 180.19.
GBPUSD- Trend- Bullish
The pound sterling lost its shine after weak UK inflation. UK consumer price index declined to 7.9% YoY in June, compared to a forecast of 8.2%. The probability of a 25 bpbs rate hike by BOE rose to 65% from 42%. Any break below 1.2850 confirms intraday bearishness.
USDJPY- Bullish
The pair trades weak on increasing demand for safe-haven assets. Significant resistance is 140/141.20.
GBPJPY analysis-
The near-term support is around 179.80, a breach below targets of 179.25/178. The immediate resistance is at 180.85, any violation above will take the pair to 182/183/184.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 180.48-50 with SL around 181.50 for a TP of 178.


FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
FxWirePro- Major Crypto levels and bias summary
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro: GBP/NZD retreats slightly but trend is still bullish
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 



