The GBP/JPY trades flat in a narrow range between 198.27 and 199.31 for the past three days. It hit an intraday high of 200.27 and is currently trading around 198.72. Intraday trend is bullish as long as support 197.80 holds.
The pair is trading above 55 and 200 EMA and 365 EMA (long-term) on the 1-hour chart, confirming a bullish trend. Any violation below 198.40 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 ( 1-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


FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major European Indices
FxWirePro: AUD/USD gains some ground but remains sensitive to Middle East tensions
FxWirePro: USD/ZAR fibo rejection triggers sizeable pullback
FxWirePro: EUR/AUD retreats slightly but trend is still bullish
Yen Resurgence Drives GBPJPY to 2.5-Week Low: Sellers Aim for 208.00
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/USD recovers but bears are not done yet again
FxWirePro: EUR/ NZD loses momentum but outlook is bullish
FxWirePro: EUR/ NZD steadies around 2.0150, retains bid tone
Euro Bulls Charge Past 1.1600: Broad Dollar Sell-Off Ignites Powerful EURUSD Rally
FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level
FxWirePro: USD/JPY firms as Trump's address on Gulf war spark fresh concerns
NZDJPY Technical Outlook: Bearish Bias Deepens as Key Resistances Hold
FxWirePro: AUD/USD downside pressure builds, key support level in focus
FxWirePro: GBP/NZD range to extend until there is game changing news 



