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Sterling’s Ascent: GBP/JPY Breaks 212 as Yen Weakness Intensifies

 

Sterling’s Ascent: GBP/JPY Breaks 212 as Yen Weakness Intensifies

 

With board-based yen selling, GBPJPY rose over 212. Having reached an intraday high of 212.34, it is presently trading around 212.13.

 

Technicals

CMP -212.23

Trend

4- Hour chart

Value

 

 

55 EMA

211.46

CMP> value

Bullish

200- EMA

210.71

CMP > value

Bullish

365- EMA

210.52

CMP > value

Bullish

 

Major support- 211.50/211/210.70/210/209.48/208. Major resistance - 212.40/213.15/214

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

115.14

ADX

Bullish

 Strength rose form 28.50 to 30.21

 

It is good to buy on dips around  211.58-60 with SL around 210.50  for a TP of 214.

 

 

 

 

 

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