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: USD/JPY slips as yen gains ahead of BOJ meet
ETHUSD Dips Below $3000 on BOJ Rate Hike Fears: Buy the Dip at $2700, Targeting $4000?
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: USD/CAD pauses decline,critical support lies ahead
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro- Major Crypto levels and bias summary
Bitcoin Yawns at Fed Cut – Coiled Tight at $92K: $90K Hold = Straight Shot to $100K
EUR/JPY Retreats: Yen Strength Caps Rally, Bearish Bias Intact Below 183.15
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CNY outlook weaker on renewed downside pressure
FxWirePro- Major European Indices
Euro Refuses to Die: EUR/JPY Holds 182.50, Eyes 184 Breakout
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints
FxWirePro: AUD/USD dips on soft China data 



