GBPJPY pared most of its gains on the strong yen. It hits a low of 158.90 and is currently trading around 159.19.
GBPUSD- Trend- Bullish
The pound sterling recovered above 1.2350 ahead of BOE monetary policy. The central bank to hike rates by 50 bpbs, 10th consecutive month. Any hawkish comments by BOE will push GBP higher to 1.2500. Any daily close above 1.2500 will take the pair to 1.2600.
USDJPY- Bearish
The pair declined sharply after a less hawkish rate hike by Fed. Major supports are 127.20/125.
GBPJPY analysis-
The near-term support is around 158.90, a breach below targets of 158.50/157.50/156. The immediate resistance is around 160, any violation above will take the pair to 161.80/163/164.
Indicators (4-hour chart)
CCI (50) –bearish
ADX- Bearish
It is good to sell on rallies around 159.55-60 with SL around 160.30 for a TP of 157.60.


FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/AUD under pressure as pound continues to weaken
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
FxWirePro:USD/JPY hovers near a four-decade low
FxWirePro: USD/CAD edges lower but bullish outlook persists
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118 



