GBPJPY pared some of its gains after Fitch UK's rating outlook. It has downgraded Long term Foreign currency (LFTC) issuer default rating (IDR) to negative from stable and affirmed AA-.Pound sterling lost more than 200 pips from its high of 1.14952. Any close above 1.1500 confirms further bullishness. Technically in the 4-hour chart, holds above short-term 21-EMA, 21 EMA, and long-term 200 EMA (161.88). Any convincing break above 164.50 will take the pair to the next level 165.70/166.35/167. GBPJPY hits an intraday high of 163.45 and is currently trading around 163.55.
The near-term support is around 163.25, a breach below targets 162.70/162/160.30.
Indicators (4-hour chart)
CCI (50) – Bullish
ADX- Neutral
It is good to buy on dips around 163 with SL around 162 for TP of 166.35.


FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro- Major European Indices
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
EUR/JPY Bearish Outlook Persists: Ifo Weakness Caps Upside, Sell Rallies Targeting 180 Below 183 Resistance
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
Yen Surge Dims NZDJPY Shine: Bearish Trend Holds Below 91 Resistance
FxWirePro: USD/ZAR bears maintain upper hand 



