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.


FxWirePro: USD/JPY dips as Yen firms on BOJ rate-hike bets
FxWirePro: USD/ZAR bears maintain upper hand
AUD/JPY Faces Downside Pressure Amidst Australian Dollar Weakness
Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro: EUR/ AUD gains slightly but remains on bearish path
FxWirePro: EUR/NZD neutral in the near term, scope for downward resumption
Bitcoin Eyes $90K as $3B ETF Inflow Streak Overpowers Hawkish Fed
Major Pair Currency Score: AUDUSD Extremely Bullish, NZDUSD Bullish
FxWirePro- Woodies Pivot (Major)
FxWirePro:EUR/NZD gains some ground but outlook is bearish
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD cedes early gains ,outlook bearish
FxWirePro: USD/CAD rises above 1.3900 level after Warsh's Jackson hole speech
FxWirePro: GBP/AUD stuck in range but maintains bearish bias
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path 



