GBPJPY Bulls Stay in Charge: Holding 210 Unlocks 214+ Upside – Buy the Dip

GBPJPY trades flat with positive bias. The intraday trend is bullish  as long as support 210 holds. As of publishing, it is trading around 211.93; its intraday high is 212.

Oscillators and moving averages to forecast the trend of GBPJPY

CMP- 212

EMA ( 60-min chart)

55-EMA- 211.43

200-EMA- 211.70

365-EMA- 211.70. The pair trades above the short (55- EMA) and long-term moving average (200 and 365 EMA).

 Major Support- 211.75. Any breach below will drag the pair down to 211/209.70/208.50/208 .

Major resistance - 212.20.  Any break above 212.20 confirms minor bullishness; a jump to 213/213.45/215 is possible.

Indicator (60-min chart)

 CCI (50)-  Bullish

Average directional movement Index-  Neutral. All indicators confirm a mixed trend.

It is good to buy on dips around 210.78-80  with SL around 210 for a TP of 214.