As the yen loses steam, GBPJPY climbed almost 100 pips from the small bottom of 197.48. Currently trading around 198.19, the pair reached an intraday high of 198.55.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 198.08
EMA (4-hour chart)
55-EMA- 199.09
200-EMA- 199.21
365-EMA- 198.60. The pair trades below short and above long long-term moving average.
This week's low- 197.48 (Yesterday’s low). The pair holds well below that level. Any breach below 197.45 will drag the pair down to 196.95/195.80/195.80/195.
Recent high - 198.60. Any break above 198.63 confirms minor bullishness, a jump to 199.20/199.60/200 /200.51is possible.
Indicator (4-hour chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 198.48-50 with SL around 199 for TP of 197.


ETH Stands Alone Bullish; BTC, SOL, XRP, BNB Neutral
FxWirePro: GBP/USD hits one-month high, scope for further upside
JPY Action Bias: Extremely Bullish Surge Ignites Across NZD, GBP & AUD
FxWirePro:EUR/NZD stuck In narrow ranges, focus on near term support
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR advances as South African rand weakens amid renewed Middle East tensions
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Pair levels and bias summary
NZDJPY Bullish Surge: Strong Kiwi Ignites Fresh Upside as 94 Support Holds and All EMAs Align
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
EUR/USD Holds Bullish Tone Despite Pullback from Yesterday’s High
FxWirePro: GBP/USD under pressure despite UK's modest economic growth 



