Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

GBP/JPY Holds Bullish Stance Despite Mixed UK Jobs Data; Eyes 200/202 Targets

The GBP/JPY trades flat amid mixed UK jobs data.  It hit an intraday high of  199.45 and is currently trading around 199.37. The intraday trend remains bullish as long as the resistance at 198.55 is maintained.

‘The GBP/JPY pair is trading above  55 and 200 EMA (Short-term) and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend.  Any violation below 198.55 indicates the intraday trend is weak. A dip to 197.75/196.70/196.20/195/194/193/191.95/190 is possible.  Immediate resistance is at 199.60; a breach above this level targets 200/202.

Market Indicators ( 4-hour chart)

CCI (50)- Bullish

Directional movement index - Bullish

Trading Strategy:  Buy

 
 It Is good to buy on dips around 198.90-95 with SL around 198 for a TP of 202.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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