GBPJPY pared most of its gains made yesterday after the Fed monetary policy. A dovish rate hike by Fed has dragged the US dollar down against Yen. The nice pullback in pound sterling prevents the pair from further sell-off. Any break above 1.2200 confirms further bullishness. Technically in the 4-hour chart, the pair is holding below short-term 21-EMA, above 55 EMA, and long-term 200 EMA (164.17). Any breach above165.25 will take the pair to next level to 166.35/167. GBPJPY hits an intraday low of 164.52 and is currently trading around 165.10.
The near-term support is around 164.50, with violations below 164/163/161.80.
Indicators (4-hour chart)
CCI (50) – Bullish
ADX- Neutral
It is good to sell on rallies around 165.55-60 with SL around 166.35 for TP of 163.


FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major Crypto levels and bias summary
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
FxWirePro- Major European Indices
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path
FxWirePro- Major Pair levels and bias summary
FxWirePro: NZD/USD downside pressure builds, key support level in focus
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: GBP/NZD remains bullish as rally continues
EUR/USD Surges Past 1.1765 on Dismal US Jobs Data: Bullish Momentum Builds with Eyes on 1.1900
Yen Surge Dims NZDJPY Shine: Bearish Trend Holds Below 91 Resistance 



