Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro- Buy GBPJPY on dips

GBPJPY surged sharply on board-based yen weakness. It hits a high of 189.41 and is currently trading around 189.14. Intraday trend is bullish as long as support 188 holds.

 

Markets eye BOE monetary policy today for further direction.

 

Technicals-

 

The pair is trading above short-term 34, below 55 EMA (186.04 and 186.84), and long-term 200 EMA (190.18) in the 4-hour chart.

 

The near-term resistance is around 189.50, a breach above targets 189..83/190/191.25/193.50. Major trend continuation only above 193.50. The immediate support is at 188, any violation below will drag the pair to 186.70/185.80/185.

 

Indicator (4-hour chart)

 

CCI (14)- Bullish

 

CCI (50)- Bullish

 

Average directional movement Index - Bullish. All indicators confirm a bullish trend.

 

It is good to buy on dips around 188.50 with SL 187.45 for a TP of 190/191.25.  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.