GBP/JPY showed a minor pullback as the pound sterling gained strength. It hit an intraday high of 193.75 and is currently trading around 193.52. Intraday trend is bearish as long as resistance 195 holds.
The GBP/JPY pair is trading below 34 and above 55 EMA (Short-term) and 200 EMA (long term on the 1-hour chart, confirming a bearish trend. Immediate resistance is at 194,a breach above this level targets of 194.70/195/196.50. Downside support is at 193.50/193/192.35/191.70.
Market Indicators (4- hour)
CCI (50)- Bearish
Directional movement index - neutral
Trading Strategy: Sell on rallies
It Is good to sell on rallies around 194 with SL around 195 for a TP of 191.70/190.


FxWirePro: GBP/AUD falls after BoE rate hold
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD bulls gear up for next leg higher, eyes 2.3500level
FxWirePro: GBP/USD gains some traction after UK retail sales beat expectation
FxWirePro: USD/CAD loses upside momentum but outlook is bullish
EURJPY Recovers Over 150 Pips Post-BOJ Hike, Bullish Trend Strengthens
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR edges higher as rand weakens ahead of South Africa inflation data
FxWirePro: USD/JPY rises as yen weakens following BOJ's 25bp rate hike
BoE Pause Pulls Back Sterling: GBP/JPY Dips to 207.92 Despite Hawkish Undercurrents
USD/CHF Blasts Past 0.8250: Technicals Signal Next Stop at 0.8340
FxWirePro: AUD/USD firms after RBA governor Bullock comments
FxWirePro: GBP/AUD edges higher but maintains bearish bias
FxWirePro: GBP/USD falls after BoE holds rates and warns of further hikes
FxWirePro- Woodies Pivot (Major) 



