Since Christmas Eve closes most of the markets, GBPJPY transactions are flat. As long as resistance 212 or support 210 persists, the intraday trend is neutral. It is trading around 210.56 as of publication and has reached an intraday low of 210.573.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 210.576
EMA (1-hour chart)
55-EMA- 210.60
200-EMA- 209.38
365-EMA- 208.47. The pair trades below the short (55- EMA) and above the long-term moving average(365 EMA and below 200 EMA).
Major Support- 210. Any breach below will drag the pair down 209.70/209/208.60/207.95/207.20/206.75.
Major resistance - 211.55. Any break above confirms minor bullishness; a jump to 212/212.60 is possible.
Indicator (4-hour chart)
CCI (50)- bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to stay away from market.
