GBPJPY Roars Back Above 212 – Bullish Rebound Alive as Long as 210 Holds Firm

GBPJPY gained sharply after a minor decline below 210. The intraday trend is bullish as long as support 210 holds. As of publishing, it is trading around 212.06; its intraday high is 212.167.

Oscillators and moving averages to forecast the trend of GBPJPY

CMP- 212.07

EMA ( 60-min chart)

55-EMA- 211.31

200-EMA- 211.76

365-EMA- 211.75. The pair trades below the short (55- EMA) and long-term moving average (200 and 365 EMA).

 Major Support- 211.75. Any breach below will drag the pair down to 211/209.70/208.50/208 .

Major resistance - 212.20.  Any break above 212.20 confirms minor bullishness; a jump to 213/213.45/215 is possible.

Indicator (60-min chart)

 CCI (50)-  Bullish

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

It is good to buy on dips around 211.48-50  with SL around 210.70 for a TP of 214.