|   Technicals


  |   Technicals


FxWirePro- Trade GBPJPY using Woodies CCI

Major Intraday resistance -150.20

Intraday support- 149.50


GBPJPY has formed a double bottom around 149.17 and shown a nice pullback. It hits an intraday high of 150.11 and is currently trading around 150.05. The intraday trend of GBPJPY is bullish as long as resistance 149.15 holds.


USDJPY- Analysis

The pair is still trading below 110 levels on risk aversion. The overall trend is bearish as long as resistance 110.80 holds.

CCI Analysis-

Both CCI (50) and Woodies CCI  is above the zero lines. In Woodies CCI six consecutive bars above zero confirms intraday bullishness.


The pair's immediate resistance is around 150.20, any surge above targets 150.80/151.30/152/152.85/153.50. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 149.80. Any indicative violation below targets 149.40/149.15/149.

 Indicator (1-Hour chart)

Directional movement index –Neutral


It is good to buy on dips around  149.95-150 with SL around 149.40 for a TP of 150.80.

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.