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 gains some ground but remains sensitive to Middle East tensions
FxWirePro: USD/CAD runs out of steam but maintains bullish outlook
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: USD/CNY gains some ground but bearish outlook persists
FxWirePro: AUD/USD downside pressure builds, key support level in focus
AUDJPY Pullback Intensifies: Resistance at 110.00 Signals Short Opportunity
FxWirePro: EUR/ NZD steadies around 2.0150, retains bid tone
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/NZD range to extend until there is game changing news
FxWirePro- Major European Indices
Bitcoin Recovers Amid Easing Geopolitics: Bulls Target USD 80,000 Support Rebound
FxWirePro: EUR/ NZD loses momentum but outlook is bullish
FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level
EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies
Euro Bulls Charge Past 1.1600: Broad Dollar Sell-Off Ignites Powerful EURUSD Rally 



