The GBPJPY pair saw a minor increase following the release of cooler-than-expected UK CPI data, reaching a high of 208.67 before settling near 208.61.UK CPI for January 2026 cooled to 3.0% y/y (from 3.4%), driven by sharp slowdowns in transport (2.7%) and food (3.6%) inflation, while core CPI eased to 3.1% — its lowest since August 2021.
Services inflation remained sticky at 4.4%, though restaurants/hotels rose slightly to 4.1%; monthly CPI turned negative at -0.5%.
The softer print boosts BoE May rate-cut probability to ~70%, supporting a modestly stronger GBP and keeping the path toward the 2% target alive by mid-2026.
|
Technicals |
CMP -208.60 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
208.32 |
CMP > value |
Bullish |
|
200- EMA |
209.67 |
CMP < value |
Bearish |
|
365- EMA |
210.50 |
CMP < value |
Bearish |
Major support- 207.50/206.75/205. Major resistance - 208.25/20920/210
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
above zero line (slightly bullish) |
3.91 |
|
ADX |
Bullish |
Strength jumped from 19 to 20.53 |
It is good to sell on rallies around 208.78-80 with SL around 210 for a TP of 206.


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