Rising over the 214 mark, GBPJPY trading is at its highest since August 2008. As long as support 212.60 is present, the intraday trend is positive. Its intraday high is 214.09, and its trading price is roughly 214.07 as published.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 214
EMA (4- hour chart)
55-EMA- 211.51
200-EMA- 209
365-EMA- 206.87. The pair trades above short (55- EMA) and above long term moving average(365 EMA and below 200 EMA).
Major Support- 212.60. Any breach below will drag the pair down 211.74/211/210.54/209.70/209/208.60/207.95/207.20/206.75.
Major resistance - 214.20. Any break above confirms minor bullishness, a jump to 215.18/216-/217 is possible.
Indicator (4-hour chart)
CCI (50)- Bearish
Average directional movement Index- Bearish. All indicators confirm a bearish trend.
It is good to buy on dips around 211.50 with SL around 210.50 for a TP of 214.
