GBPJPY was slightly profit booked as the pound sterling singlehandedly dropped over 200 pips last week.. The bullish momentum on the daily chart still prevails. The pair is changing hands at 202.33 levels after hitting an intraday low of 202.11.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 202.33
EMA (4-hour chart)
55-EMA- 202.52
200-EMA- 201.67
365-EMA- 200.63. The pair trades below short and above long term moving average.
Major Support- 202. Any breach below will drag the pair down 201.30/200.50/200/199.30/198.34/197.40.
Major resistance - 202.80. Any break above confirms minor bullishness, a jump 203.30/204/204.25/205 is possible.
Indicator (4 hour chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to buy on dips around 202.18-20 with SL around 201.30 for a TP of 205.


FxWirePro:NZD/USD treads water as Iran uncertainty keeps traders on edge
FxWirePro: GBP/USD drifts lower , could be on verge of bigger drop
FxWirePro: GBP/AUD idles around 1.9230 as market awaits fresh catalysts
FxWirePro- Major European Indices
FxWirePro: USD/JPY edges up, looks to extend gains
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD runs out of steam but maintains bullish outlook
FxWirePro: AUD/USD edges higher but bearish outlook persists
FxWirePro: USD/CNY edges up as yuan weakens on firmer dollar
FxWirePro: USD/ZAR uptrend loses steam, remains on bullish path
Sterling’s Steady Ascent: GBPJPY Tests the 213.31 Resistance Amid a Two-Week Consolidation
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro: EUR/ NZD stuck in range but maintains bullish bias
AUDJPY Stalls in Neutral Ground: Bearish Shadows Loom Over the 111.00 Mark
FxWirePro: USD/CAD positions for another climb, eyes 1.3900 level
NZDJPY in Consolidation: Navigating the 92.00 Range as Bearish Clouds Gather 



