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GBPJPY Post-BOE Beast Mode: 201.26 Smashed, 200.78 Dip Screams “Load the Truck

GBPJPY showed a nice pullback after the BOE monetary policy. Intraday trend is bullish as long as support 200 holds. It hits an intraday high of 201.26 and is currently trading around 201.17.

Oscillators and moving averages to forecast the trend of GBPJPY

 

CMP- 201.176

 

EMA (1-hour chart)

 

55-EMA- 201.73

 

200-EMA- 201.54


365-EMA- 200.65. The pair trades below the short (55- EMA) and above the long-term moving average(365 EMA) and below the 200 EMA.

 

Major Support- 200.60. Any breach below will drag the pair down 200/199.30/199/198.34/197.40.

 

Major resistance - 201.30  Any break above confirms minor bullishness; a jump to 202/202.80/203.30/204/204.25/205 is possible.

Indicator (1-hour chart)

 

CCI (50)-  Bearish

Average directional movement Index-  Neutral. All indicators confirm a bearish trend.

 

It is good to buy on dips around 200.78-80 with SL around 200 for a TP of 202.50/203.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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