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Cable-Yen Explodes to Monthly Peak: ADX Strength Surges as Bulls Target 216–217

GBPJPY hits a fresh month high after a long consolidation. It hits an intraday high of 214.47; now it is trading at about 214.45.

 

Technicals

CMP -214.45

Trend

4- Hour chart

Value

 

 

55 EMA

213.36

CMP >value

Bullish

200- EMA

213.375

CMP >value

Bullish

365- EMA

212.82

CMP >value

Bullish

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

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

150.35

ADX

Bullish

Strength increased from 20.37 to 29.29

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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