Chart pattern- Bearish Divergence (CCI(50) 8-hour chart)
The GBP/JPY hits a fresh multi-year high on board-based Yen weakness. It hit an intraday high of 199.83 and is currently trading around 1999.54. Intraday trend is bearish as long as the resistance at 200 holds.
The GBP/JPY pair is trading above 55 and 200 EMA (Short-term) and 365 EMA (long-term) on the 8-hour chart, confirming a bullish trend. Any violation below 199.35 indicates the intraday trend is weak. A dip to 198.78/198.40/197.70/196.70/196.25/195.25/194/193.70 is possible. Immediate resistance is at 200, a breach above this level targets 202/204.
Market Indicators (8-hour chart)
CCI (50)- Bullish
Directional movement index - Buy
Trading Strategy: Sell
It is good to sell on rallies around 199.58-60 with SL around 200.50 for a TP of 198/197.40.


FxWirePro- Major Crypto levels and bias summary
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
Major Pair Action Bias: NZDUSD Turns Bullish While Other Majors Stay Neutral
FxWirePro: AUD/USD edges lower, but bullish outlook persists
JPY Action Bias: CADJPY Turns Extremely Bullish While Other Pairs Hold Positive Ground
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align
NZDJPY Bullish Surge: Strong Kiwi Ignites Fresh Upside as 94 Support Holds and All EMAs Align
ETH Stands Alone Bullish; BTC, SOL, XRP, BNB Neutral
FxWirePro: USD/JPY holds steady near 162 as traders await fresh catalysts
FxWirePro: GBP/USD under pressure despite UK's modest economic growth
FxWirePro: NZD/USD trades in narrow range ,outlook bullish
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
NZDJPY Bullish Setup: Buy Dips at 94.50 as Uptrend Holds Above All Key EMAs
GBPJPY Pulls Back on Profit Booking but Bullish Setup Holds: Buy Dips Toward 223
FxWirePro- Woodies pivot (Major) 



