The GBP/JPY trades higher for the second consecutive day on the back of a weak yen. It hit an intraday high of 199.979 and is currently trading around 199.975. The intraday trend remains bullish as long as the support level at 198.80 holds.
The pair is trading above the 55 and 200 EMA, as well as the 365 EMA (long-term), on the 1-hour chart, confirming a bullish trend. Any violation below 199.49 indicates the intraday trend is weak. A dip to 198.80/197.85/197.25/ 196.70/196.20/195 is possible. Immediate resistance is at 200, a breach above this level targets 200.28/202.
Market Indicators ( 1-hour chart)
CCI (50)- Bullish
Directional movement index - Bullish
Trading Strategy: Buy
It Is good to buy above 200.28 with SL around 199.60 for a TP of 202.


FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
FxWirePro: USD/JPY holds steady near 162 as traders await fresh catalysts
JPY Action Bias: Extremely Bullish Surge Ignites Across NZD, GBP & AUD
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro: USD/CAD falls after BoC rate hold and weak U.S. producer inflation
ETH Stands Alone Bullish; BTC, SOL, XRP, BNB Neutral
JPY Action Bias: CADJPY Turns Extremely Bullish While Other Pairs Hold Positive Ground
NZDJPY Bullish Setup: Buy Dips at 94.50 as Uptrend Holds Above All Key EMAs
FxWirePro:EUR/NZD dips below lower range, bearish bias increases
FxWirePro- Major Crypto levels and bias summary
Major Pair Action Bias: Extremely Bullish Surge Powers GBPUSD & NZDUSD as Bullish Momentum Ignites
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align
FxWirePro: NZD/USD trades in narrow range ,outlook bullish 



