The GBP/JPY pared most of its gains on the weak pound sterling. It hit an intraday low of 198.10 and is currently trading around 198.28. Intraday trend is bearish as long as the resistance at 200 holds.
‘The GBP/JPY pair is trading below 55 and above 200 EMA (Short-term) and 365 EMA (long-term) on the 15-min chart, confirming a bearish trend. Any violation below 198 indicates the intraday trend is weak. A dip to 197.70/196.70/196.25/195.25/194/193.70 is possible. Immediate resistance is at 200, a breach above this level targets 202/204.
Market Indicators (15-min chart)
CCI (50)- Bearish
Directional movement index - Bearish
Trading Strategy: Sell
It Is good to sell on rallies around 199 with SL around 200 for a TP of 197.40/195.


FxWirePro: GBP/AUD stuck in range but maintains bearish bias
FxWirePro: GBP/NZD downtrend loses steam but outlook still bearish
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
Gold Tumbles Below $4400 Amidst Hawkish Fed Signals: Sell Rallies for Targets Near $4200
FxWirePro: USD/CNY hovers near 3 -1/2 year low , outlook bearish
FxWirePro: GBP/USD cedes early gains ,outlook bearish
FxWirePro: USD/ZAR sees bounce after yesterday's fall
Major Pair Currency Scores: USDCHF Leads as Bullish Contender and major levels to watch
NZDJPY Faces Downward Pressure as 95.40 Resistance Holds Firm
EURUSD Dips Below 1.1600 Amidst Dollar Strength: Bearish Bias Favors Selling Rallies
FxWirePro: USD/JPY hovers near 160, outlook bullish
Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro- Major Crypto levels and bias summary
NZDJPY Faces Selling Pressure: Will 95.20 Resistance Hold?
FxWirePro: USD/CAD downside pressure builds, key support level in focus
FxWirePro- Woodies Pivot (Major) 



