Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

GBPJPY Holds Firm Above 200 Amid Yen Weakness: Bullish Trend Signals Buying Opportunity

Broad-based yen weakening causes GBPJPY to stay above the 200 level. For the past three weeks, the pair is trading in a small range between 198.79 and 201.27. The pair peaked at 200.34 intraday and is presently trading near 200.03.

The pair is trading above 55, 200 EMA  and  365 EMA (long-term) on the 4-hour chart, confirming a bullish trend.  Any violation below 199.80  indicates the intraday trend is weak. A dip to 19199.30/199/198.75 /198/197.85 is possible.  Immediate resistance is at 200.35 a breach above this level targets of 200.53/201.26/ 202/203.

Market Indicators ( 1-hour chart)

CCI (50)- Bullish

Directional movement index -  Neutral

 

Trading Strategy:  Buy

 It Is good to buy on dips around 199.80  with SL around 199 for a TP of 202.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.