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GBPJPY Bullish on Consolidation: Holds Above 216 After 218 Top – Buy Dips at 217 Targeting 220

GBPJPY is consolidating in a narrow range after forming a temporary top around 218.  It hit an intraday high of  217.45; now it is about 217.43.

 

Technicals

CMP -217.43

Trend

4-hour

Value

 

 

55 EMA

216.52

CMP >value

Bullish

200- EMA

215.18

CMP >value

Bullish

365- EMA

214.45

CMP >value

Bullish

 Major support- 216.40/215.80/215/214.35/213.60/213/212.35/212. Major resistance 218/220.

 

Momentum indicator

Value

 

CCI(50)

54.26

Bullish

ADX

 

Neutral

 It is good to buy on dips around 217 with SL around 216 for a TP of 220.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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