The GBP/JPY pared some of its gains as the pound sterling showed a minor sell-off. It hit an intraday low of 197.19 and is currently trading around 197.45. Intraday trend is bullish as long as support 196.90 holds.
‘The GBP/JPY pair is trading below 34 and above 55 and 200 EMA (Short-term) and 365 EMA (long-term) on the 4-hour chart, confirming a mixed trend. Any violation below 197.15 indicates the intraday trend is weak. A dip to 196.70/196/195/194/193.70 is possible. Immediate resistance is at 197.75 a breach above this level targets of 198.35/198.80/200/202.
Market Indicators (4-hour)
CCI (50)- Bullish
Directional movement index - Neutral
Trading Strategy: buy on dips
It Is good to buy on dips around 196.50 with SL around 195 for a TP of 200.


FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
Euro Refuses to Die: EUR/JPY Holds 182.50, Eyes 184 Breakout
NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
FxWirePro: USD/CNY outlook weaker on renewed downside pressure
AUDJPY Range Play: Hold 102.95 Support, Target 105 on Breakout
NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support
FxWirePro: USD/JPY caught in narrow range, bias bearish
FxWirePro: GBP/AUD gives up early gains after UK GDP shock
FxWirePro- Woodies Pivot(Major)
Yen Strikes Back: AUD/JPY Retreats as BOJ Policy Looms – Sell on Rallies to 100
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro: AUD/USD dips on soft China data
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro- Major Crypto levels and bias summary 



