GBPJPY lost traction over 213 yen. As long as support 211.90 is maintained, the intraday trend is bullish. It is trading around 213 as of publication; its intraday high is 213.14.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 213.14
EMA ( 60-min chart)
55-EMA- 212.30
200-EMA- 211.695
365-EMA- 211.86. The pair trades above the short (55- EMA) and long-term moving average (200 and 365 EMA).
Major Support- 212.30. Any breach below will drag the pair down to 211.75/211/209.70/208.50/208 .
Major resistance - 212.30. Any break above 212.30 confirms minor bullishness; a jump to 213/213.45/215 is possible.
Indicator (60-min chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a bullish trend.
It is good to buy on dips around 212.55 with SL around 211.29 for a TP of 215.
