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GBPJPY Coil Tightens: Is a Bullish Break Above 215.60 Imminent?

GBPJPY has been consolidating in a narrow range between 215.61 and 212.95 for the past five days. It dropped to a low of 212.95; now it is about 214.838.

 

Technicals

CMP -214.838

Trend

4- Hour chart

Value

 

 

55 EMA

214.46

CMP >value

Bullish

200- EMA

214.01

CMP >value

Bullish

365- EMA

213.43

CMP >value

Bullish

 Major support-213.80/213/212.60/212/211.30/210.40/209.80. Major resistance 215.25/215.60/ 216/217/218.

 

Momentum indicator

Value

 

CCI(50)

33.49

Bullish

ADX

 

Neutral

 It is good to buy on dips around 214.38-40 with SL around 213.80 for a TP of 216.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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