GBPJPY pared most of its gains on the strong yen. It hits a high of 186.73 yesterday and is currently trading around 185.27.
Yen gained momentum after weak US PPI data. It has increased the chance of aggressive rate cut by the Fed next week.
Technicals-
The pair is trading below short-term 34, below 55 EMA (186.99 and 187.79), and long-term 200 EMA (190.78) in the 4-hour chart.
The near-term resistance is around 185.70, a breach above targets 186.05/186.40/187/187.74 (23,6% fib)/188.13 (Sep 9th high).Major trend continuation only above 190. The immediate support is at 185, any violation below will drag the pair to 184.56/183.
Indicator (4-hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index - bearish. All indicators confirms bearish trend .
It is good to sell on rallies around 185.98-186 with SL around 187.70 for a TP of 180.40.


FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CNY slips as Yuan firms ahead of Trump-Xi talks
FxWirePro: USD/JPY holds firm but remains capped below 158.00
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD edges higher but bias is bearish
Yen Retreats: AUDJPY Hits Three-Day Winning Streak as Bullish Momentum Surges
FxWirePro: NZD/USD soured risk gives US Dollar bulls the win
FxWirePro: NZD/USD edges higher but bulls lack punch
FxWirePro: EUR/ NZD gains some upside momentum but still bearish
FxWirePro: GBP/USD slide extends as UK political tumult intensifies
FxWirePro: EUR/AUD downside pressure builds, key support level in focus
FxWirePro: USD/CAD gains some ground but bias is bearish
FxWirePro: USD/ZAR gains some upside as rand weakens after sour local jobs data
FxWirePro: GBP/NZD downtrend extends, remains on bearish path
FxWirePro: AUD/USD eases slightly as focus shifts to US-China meeting
FxWirePro- Major Crypto levels and bias summary
Bitcoin Holds Steady Near USD 80k as the CLARITY Act Heads for a Decisive Senate Vote 



