Near the 200-4H EMA, GBPJPY found support and displayed a small surge on a weak yen. At about 200, the couple is encountering stiff opposition; further bullishness is confirmed by any price above 200. Presently trading around 199.92, the pair hit an intraday peak of 199.958.
The pair is trading above 55, 200 EMA, and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend. Any violation below 199 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 ( 1-hour chart)
CCI (50)- Bearish
Directional movement index - Neutral
Trading Strategy: Sell
It is good to sell on rallies 200 with SL around 200.75 for a TP of 198.50.


AUDJPY Pullback Intensifies: Resistance at 110.00 Signals Short Opportunity
Euro Bulls Retreat: EURUSD Faces Resistance at 1.1500 as Technical Indicators Signal Further Downside
Ethereum Rises on Geopolitical De-escalation: Pezeshkian’s Peace Signal Ignites Bullish Momentum
FxWirePro: EUR/AUD retreats slightly but trend is still bullish
FxWirePro- Major European Indices
FxWirePro: NZD/USD cautiously bid as traders sense end to Iran war
Bitcoin on Edge: Geopolitical Tensions Weigh on BTC as Bulls Eye the USD 64,000 "Buy the Dip" Zone
FxWirePro: USD/ZAR loses momentum but outlook is bullish
Bitcoin Recovers Amid Easing Geopolitics: Bulls Target USD 80,000 Support Rebound
NZDJPY Technical Outlook: Bearish Bias Deepens as Key Resistances Hold
FxWirePro: EUR/ NZD loses momentum but outlook is bullish
Ethereum in Consolidation: ETH Trapped in Narrow Range as Bulls Await the USD 2,000 "Buy the Dip" Opportunity
Yen Resurgence Drives GBPJPY to 2.5-Week Low: Sellers Aim for 208.00
FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro- Woodies Pivot(Major) 



