GBPJPY trades in a narrow range between 170.09 and 167.41 for the past three trading days. The Pound sterling pared most of its gains as UK PM Truss resigned after serving 6 weeks. Markets await UK development in UK political crisis for further direction. Any breach below 1.1150 will take GBPUSD to 1.0950. Technically in the 4-hour chart, GBPJPY holds above short-term 21-EMA, 55- EMA, and long-term 200 EMA (163.64). Any convincing break above 170 will take the pair to the next level 172/175. GBPJPY hits an intraday low of 169.32 and is currently trading around 168.896.
The near-term support is around 167.40, a breach below targets 166/165.
Indicators (4-hour chart)
CCI (50) – Bullish
ADX- bullish
It is good to buy on dips around 168 with SL around 167 for a TP of 172.


FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro:USD/JPY hovers near a four-decade low
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
Crypto Bias Report: Trend Signals and Top Bullish Picks
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
FxWirePro: USD/CAD edges lower but bullish outlook persists
FxWirePro: USD/CNY edges higher but bulls lack punch
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
FxWirePro: USD/ZAR retreats slightly but bias is bullish
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption 



