GBPJPY took support near the trend line and showed a minor pullback. The intraday trend is bullish as long as support 210 holds. As of publishing, it is trading around 213.13; its intraday low is 211.61.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 213.18
EMA ( 60-min chart)
55-EMA- 213.056
200-EMA- 212.67
365-EMA- 212.35. The pair trades below the short (55- EMA) and above the long-term moving average (200 and 365 EMA).
Major Support- 212.85. Any breach below will drag the pair down to 212.30/211.75/211/209.70/208.50/208.
Major resistance - 213.40. Any break above 213.40 confirms minor bullishness; a jump to 214.20/215 is possible.
Indicator (60-min chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to buy on dips around 212.48-50 with SL around 211.29 for a TP of 215.
