GBPJPY Consolidates Above 215 on Bullish Momentum: Buy Dips Toward 217 
FxWirePro: GBP/AUD risks tilt further to the downside 
FxWirePro: AUD/USD range bound ahead of RBA policy decision 
FxWirePro: NZD/USD drifts lower as markets await US inflation data 
Nikkei Blasts Past 67K: AI Chip Frenzy Ignites 9% Surge From Yen Intervention Bottom 
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: USD/ZAR edges higher after weak SA jobs and manufacturing data 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: AUD/USD in holding pattern as market await fresh catalyst 
FxWirePro- Major Pair levels and bias summary 
FxWirePro : USD/JPY holds near 160 as yen remains under pressure 
FxWirePro:EUR/NZD gains slightly as ranges remain tight ahead U.S. inflation report 
FxWirePro: GBP/AUD edges higher but bulls lack punch 
FxWirePro:NZD/USD drifts lower, could be on verge of bigger drop 
Pound/Yen is clearly on the downside today but short term fundamental suggests that the pair might correct more on the upside. We have issued long term short call in pound against Yen, however in the short run prospect is quite high on the upside and risk reward is very attractive.
We expect, recent rally in equities to continue, which would pose significant challenges for Yen bulls. Yen is up today as Bank of Japan (BOJ) didn’t fire any shots but it was widely expected and any reaction to buying over this week’s drop in equities and oil is likely to be short lived.
After quite a long drop from 1.58, Pound is poised for greater correction against popular expectations. We expect Pound to rise on weaker Dollar, post FOMC meetings and Yen to fall victim to equities’ rally. Moreover Yen is now strengthen more than 1000 pips and now finding resistance at key level around 111 against Dollar.
Trade idea
- Buy Pound against Yen at current rate 160.7 and at further dips with stop loss around 159 and target around 165.5 and 169.
