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GBPJPY Surges Past Trendline Resistance, Signaling Bullish Momentum

GBPJPY breaks minor trend line resistance after a long consolidation.  It hits an intraday high of 214.32; now it is about 214.30.

 

Technicals

CMP -214.30

Trend

4- Hour chart

Value

 

 

55 EMA

213.54

CMP >value

Bullish

200- EMA

213.64

CMP >value

Bullish

365- EMA

213.83

CMP >value

Bullish

 Major support- 213.60/213/212.35/212/211.30/210.40/209.80. Major resistance 214.70/215.25/215.60/ 216/217/218.

 

Momentum indicator

Value

 

CCI(50)

263

Bullish

ADX

Strength increased from 11.11 to 20.85

Bullish

 It is good to buy on dips around 213.80-85, with an SL around 213, for a TP of 216.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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