GBPJPY traded weak for the third consecutive day and lost more than 200 pips from a minor top of 174.68 on the weak pound sterling. It hits a low of 172.67 and is currently trading around 172.85.
GBPUSD- Trend- Bearish
The pound sterling is under pressure on board-based US dollar buying. Markets eye UK PM Sunak's US visit for further direction. Any break below 1.2360 confirms further bearishness.
UK May construction PMI inched higher to 51.60vs 5.10 expected.
USDJPY- Bullish
The pair trades below 140 on declining US treasury yields. Significant Support is 1
GBPJPY analysis-
The near-term support is around 172.50, a breach below targets 171.80/171/170. The immediate resistance is at 175, any violation above will take the pair to 176/177.
Indicators (4-hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 173.50-55 with SL around 175 for a TP of 170


FxWirePro: USD/CAD slides as U.S. dollar weakens after jobs data
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro- Woodies Pivot(Major)
Yen Surge Dims NZDJPY Shine: Bearish Trend Holds Below 91 Resistance
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
FxWirePro- Major European Indices
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
ETHUSD Dips Below $3000 on BOJ Rate Hike Fears: Buy the Dip at $2700, Targeting $4000?
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects 



