The GBP/JPY trades flat with positive bias. It hit an intraday low of 198.55 and is currently trading around 198.72. Intraday trend is bullish as long as support 197.80 holds.
The pair is trading below 55 and above 200 EMA and 365 EMA (long-term) on the 4-hour chart, confirming a mixed trend. Any violation below 198.35 indicates the intraday trend is weak. A dip to 197.85/197.25/ 196.70/196.20/195 is possible. Immediate resistance is at 199.45 a breach above this level targets of 200/200.28/202.
Market Indicators ( 4-hour chart)
CCI (50)- Bearish
Directional movement index - Neutral
Trading Strategy: Buy
It is good to buy on dips around 198 with SL around 197 for a TP of 202/202.98


Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro: USD/CAD rises above 1.3900 level after Warsh's Jackson hole speech
AUDJPY Pares Gains: Bullish Trend Intact Above 114 Despite Profit-Taking
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro- Woodies Pivot (Major)
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path
FxWirePro: NZD/USD edges higher ahead of RBNZ decision
FxWirePro: GBP/AUD stuck in range but maintains bearish bias
FxWirePro: AUD/USD holds steady ahead of key Australian and U.S. data
FxWirePro- Major Pair Currency Score (AUDUSD Bullish)
FxWirePro: EUR/NZD neutral in the near term, scope for downward resumption
FxWirePro: USD/CAD downside pressure builds, key support level in focus
FxWirePro: GBP/NZD downtrend loses steam but outlook still bearish
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
FxWirePro:EUR/NZD gains some ground but outlook is bearish
AUD/JPY Faces Downside Pressure Amidst Australian Dollar Weakness
FxWirePro: GBP/AUD dips below 1.9000 level , vulnerable to more downside 



