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.
