Bearish divergence - CCI (50)
GBPJPY pared some of its gains after a heavy surge of more than 800 pips from a minor bottom 176. It hit a high of 184.55 yesterday and is currently trading around 184.602.
GBPUSD- Trend- Bearish
The pound sterling showed a minor sell-off after weak UK retail sales. It came in at -1.20% m/m in Jul, compared to a forecast of -0.50%. The Core retail sales dropped to 1.40% MoM vs -0.70% expected. Any break below 1.2700 confirms further bearishness.
USDJPY- Neutral
The pair showed a minor profit booking as US yields retreated. The significant resistance is 146/147.
GBPJPY analysis-
The near-term resistance is around 185.60, a breach above targets 186.50/187/188.50. The immediate support is at 184.38, any violation below will drag the pair to 183.
Indicators (4-hour chart)
CCI (50)- Bullish
ADX- neutral
It is good to sell on rallies around 185.45-50 with SL around 186.50 for a TP of 180.60.


FxWirePro- Woodies pivot (Major)
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro:USD/JPY holds above 163 as intervention fears keep traders on edge
JPY Strength Alert: USDJPY, AUDJPY, EURJPY and CADJPY Turn Extremely Bullish
FxWirePro: AUD/USD rallies on jobs surge, heads to test key resistance
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
NZDJPY Dips Create Fresh Buy Opportunity as Key Support Holds
FxWirePro: GBP/NZD gains some upside momentum but still bearish
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro:USD/JPY hovers near a four-decade low
FxWirePro: USD/CNY attracts selling interest, vulnerable to more downside
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish 



