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Pound Power Drives GBPJPY Past 214.50 — Buy-the-Dip Setup Targets 217

GBPJPY trades higher for the third consecutive week on board-based Pound sterling buying. It reached an intraday high of 214.88; presently, it is around 214.76.

 

Technicals

CMP -214.76

Trend

4- Hour chart

Value

 

 

55 EMA

213.935

CMP <value

Bullish

200- EMA

213.597

CMP >value

Bullish

365- EMA

213.03

CMP >value

Bullish

 Major support-212.60/212/211.30/210.40/209.80/209. Major resistance 214.50/215/ 216/217/218.

 

Momentum indicator

Value

 

CCI(50)

133.06

Bullish

ADX

Neutral

 

 It is good to buy on dips around 214 with SL around 213 for a TP of 216/217.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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