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GBPJPY Soars on Yen Weakness: Bullish Signals Point to Further Gains

 

 

GBPJPY showed a massive gap-up opening on board-based Yen weakness. Presently trading around 201.93, the pair hit an intraday high of 201.93.

Oscillators and moving averages to forecast the trend of GBPJPY

 

CMP- 201.88

 

EMA (4-hour chart)

 

55-EMA- 199.34

 

200-EMA- 199.28


365-EMA-  198.67. The pair trades above the short and long-term moving averages.

 

Major low- 201.10. Any breach below will drag the pair down to 200/199/198/196.95/195.80/195.80/195.

 

Recent high - 202.25 (Today’s high).  Any break above 202.50 confirms minor bullishness; a jump to  203.60/205 is possible.

Indicator (4 hour chart)

 

CCI (50)-  Bullish

 

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

 

It is good to buy on dips around 201.25-28 around 200 with SL around 199 for TP of 203.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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