Near the 200-4H EMA, GBPJPY found support and displayed a small surge on a weak yen. At about 200, the couple is encountering stiff opposition; further bullishness is confirmed by any price above 200. Presently trading around 199.92, the pair hit an intraday peak of 199.958.
The pair is trading above 55, 200 EMA, and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend. Any violation below 199 indicates the intraday trend is weak. A dip to 198.75 /198/197.85/197.25/ 196.70/196.20/195 is possible. Immediate resistance is at 200, a breach above this level targets 200.53/201.26/ 202/203.
Market Indicators ( 1-hour chart)
CCI (50)- Bearish
Directional movement index - Neutral
Trading Strategy: Sell
It is good to sell on rallies 200 with SL around 200.75 for a TP of 198.50.


FxWirePro- Major US Indices
FxWirePro: GBP/AUD positions for another drop, eyes 2.0100 level
Ethereum Holds Firm Above $3,100 Despite Dip – Fresh Breakout to $3,600+ Looming as Bulls Defend Key Support
FxWirePro: USD/JPY dips below lower range, bearish bias increases
EURGBP Buckles Under Sterling Surge – Bears Eye 0.8600 as 0.8800 Ceiling Holds Firm
FxWirePro- Major European Indices
GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
EURJPY Carves Triple Bottom at 180.20 – Bulls Ready to Storm 182-183 as Breakout Momentum Builds
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
Dollar Crumbles on Dovish Fed Bets – USD/CHF Eyes 0.7865 Next
NZDJPY Eyes Breakout: Buy the Dip as Bulls Guard 88.70
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/CAD outlook weaker on renewed downside pressure 



