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GBPJPY Roars Back: 100-Pip Rebound Amid Tariff Turmoil – Buy the Dip to 204?

GBPJPY gained more than 100 pips after a massive sell-off on Friday. The pair declined sharply after Trump imposed an additional tariff of 100%. Intraday trend remains bullish as long as support 201.80 holds. Trading around 202.76 right now, the pair reached a low of 201.85 yesterday.

 

Oscillators and moving averages to forecast the trend of GBPJPY

 

CMP- 202.76

 

EMA (4- hour chart)

 

55-EMA- 201.99

 

200-EMA- 200.32


365-EMA-  199.37. The pair trades above the short and long-term moving averages.

 

Major Support- 201.80. Any breach below will drag the pair down to 201.30/200/199/198.

 

Major resistance - 203.10.  Any break above 203.10 confirms minor bullishness; a jump to  204.50/206 is possible.

Indicator (4-hour chart)

 

CCI (50)-  Bullish

 

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

 

It is good to buy on dips around 202 with SL around 200 for TP of 204.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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