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 - EconoTimes)
GBPJPY showed a minor profit booking after a massive buying. It hit a low of 194.17 at the time of writing and is currently trading around 194.85.
Intraday trend is bullish as long as support 193.40 holds.
Technicals (15 min chart)
The pair is trading above short-term 34,55 EMA (194.24 and 194.40) and long-term 200 EMA (193.40) in the 15 min chart.
The near-term resistance is around 195 ,a breach above targets 195.40/196.15/197. The immediate support is at 194.50, any violation below will drag the pair to 194.15/193.75/193.40.
Indicator (15 min chart)
CCI (50)- Bullish
Average directional movement Index - Bullish. All indicators confirms mixed trend .
It is good to buy on dips above 194.50 with SL 193.40 for a TP of 196.15/197.
