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GBPJPY is one of the best performers for the day and jumped nearly 150 pips on the weak yen. It hit a high of 193.49 at the time of writing and is currently trading around 193.28.
Technicals-
The pair trades above 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 193.50, a breach above targets 194.16/195. The immediate support is at 192.65,any violation below will drag the pair to 192/191.
Indicator (hourly chart)
CCI (14)- Bu
CCI (50)- Bullish
Average directional movement Index - Bullish (strength above 20). All indicators confirm a bullish trend.
It is good to buy on dips around 192.65 with SL around 191.90 for a TP of 194.15/195.
