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GBP/JPY Breakout Blitz: Triple EMA “Buy-the-Dip” Setup Eyes 216–217 as Yen Momentum Crumbles

GBPJPY gained above 214.50 as the yen loses momentum.It hits an intraday high of 214.64; now it is trading at about 214.45.

 

Technicals

CMP -214.45

Trend

4- Hour chart

Value

 

 

55 EMA

213.53

CMP >value

Bullish

200- EMA

213.42

CMP >value

Bullish

365- EMA

212.84

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

125.11

ADX

Bullish

Strength increased from 25.43 to 27.84

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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