The GBP/JPY gained more than 100 pips from yesterday’s low on weak yen. It hit an intraday high of 199.08 and is currently trading around 198.98. Intraday trend is bullish as long as support 197.40 holds.
‘The GBP/JPY pair is trading above 55 and 200 EMA (Short-term) and 365 EMA (long-term) on the one-hour chart, confirming a bullish trend. Any violation below 198.50 indicates the intraday trend is weak. A dip to 198/197.40/196.70/196.25/195.25/194/193.70 is possible. Immediate resistance is at 199.20; a breach above this level targets 200/202/204.
Market Indicators (60 min chart)
CCI (50)- Bullish
Directional movement index - Neutral
Trading Strategy: Buy
It Is good to buy on dips around 198.65-70 with SL around 197.40 for a TP of 202.


Gold Tumbles Below $4400 Amidst Hawkish Fed Signals: Sell Rallies for Targets Near $4200
FxWirePro: GBP/AUD dips below 1.9000 level , vulnerable to more downside
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
FxWirePro: GBP/NZD downtrend loses steam but outlook still bearish
AUDJPY Pares Gains: Bullish Trend Intact Above 114 Despite Profit-Taking
FxWirePro:EUR/NZD gains some ground but outlook is bearish
FxWirePro: GBP/AUD stuck in range but maintains bearish bias
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path
EURUSD Dips Below 1.1600 Amidst Dollar Strength: Bearish Bias Favors Selling Rallies
FxWirePro: AUD/USD holds steady ahead of key Australian and U.S. data
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/ AUD gains slightly but remains on bearish path
FxWirePro- Woodies Pivot (Major)
FxWirePro: NZD/USD edges higher ahead of RBNZ decision
FxWirePro: USD/CAD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR sees bounce after yesterday's fall 



