The GBP/JPY took support near 55-4H EMA and showed a minor minor pullback. The easing US-China trade tension has decreased demand for safe-haven assets like the yen. It hit a low of 194.77 and is currently trading around 195.65. Intraday trend is bullish as long as the support of 194.80 holds.
The GBP/JPY pair is trading above 34 and 55 and above 200 EMA (Short-term) and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend. Any violation below 194.75 indicates the intraday trend is weak. A dip to 194.50/193.70/193/192.85/192/191.70/191 /190 is possible. Immediate resistance is at 196.50, a breach above this level targets of 198/200. Any major uptrend is possible only above 196.50.
Market Indicators (1- hour)
CCI (50)- Bullish
Directional movement index - Neutral
Trading Strategy: Sell on rallies
It Is good to buy on dips around 195.38-40 with SL around 194.75 for a TP of 198..


FxWirePro: AUD/USD consolidates gains ,remains on positive footing
GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/AUD downtrend extends ,eyes 23.6%fib support
FxWirePro- Woodies Pivot(Major)
EURJPY Carves Triple Bottom at 180.20 – Bulls Ready to Storm 182-183 as Breakout Momentum Builds
FxWirePro- Major US Indices
FxWirePro: EUR/CAD tumbles as strong Canadian jobs data fuels BoC rate-hike bets
CAD/JPY Rockets on Blowout Canadian Jobs Surprise – Bulls Target 113-115 as BoC Cut Odds Collapse
FxWirePro: EUR/AUD set To for bigger drop, but close below key fibo needed
NZDJPY Eyes Breakout: Buy the Dip as Bulls Guard 88.70
FxWirePro- Major European Indices
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
FxWirePro: NZD/USD sustains gains as uptrend remains strong
FxWirePro: USD/CAD outlook weaker on renewed downside pressure 



