GBPJPY trades flat with positive bias. The intraday trend is bullish as long as support 210 holds. As of publishing, it is trading around 211.93; its intraday high is 212.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 212
EMA ( 60-min chart)
55-EMA- 211.43
200-EMA- 211.70
365-EMA- 211.70. The pair trades above the short (55- EMA) and long-term moving average (200 and 365 EMA).
Major Support- 211.75. Any breach below will drag the pair down to 211/209.70/208.50/208 .
Major resistance - 212.20. Any break above 212.20 confirms minor bullishness; a jump to 213/213.45/215 is possible.
Indicator (60-min chart)
CCI (50)- Bullish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to buy on dips around 210.78-80 with SL around 210 for a TP of 214.
