GBPJPY Hits Bearish Skid Despite Retail Rally: Target 197

GBPJPY showed a minor pullback after upbeat UK retail sales data. The intraday trend is bearish as long as the resistance at 200 holds. Currently, trading around 199.70, the pair reached an intraday low of 199.35.

Strong clothing and internet retail sales, driven by a 0.5% month-on-month rise in UK retail sales volume in August 2025, match July's revised growth. The Office for National Statistics claims that back-to-school demand and good weather contribute to the annual decline in retail sales. from 0.8% in July, a 0.7% yearly decrease indicates a cautious consumer view in light of more general economic difficulties.G

The pair is trading below  55, 200 EMA, and  365 EMA (long-term) on the 15-minute chart, confirming a bearish trend.  Any violation below 199.35 indicates the intraday trend is weak. A dip to 198.75 /198/197.85/197.25/ 196.70/196.20/195 is possible.  Immediate resistance is at 200, a breach above this level targets 200.53/201.26/ 202/203.

Market Indicators ( 15-min chart)

CCI (50)- Bearish

Directional movement index -  Neutral

Trading Strategy:  Sell

 It is good to sell on rallies 200  with SL around 201 for a TP of 197.25.