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GBP/JPY: Bullish Dip-Buy Setup at 215 as 55 EMA Supports; 217–218 Break in Focus

GBPJPY recovered slightly after a minor profit-booking. Today it hits an intraday high of 215.86 ; now it is trading at about 215.80.

 

Technicals

CMP -215.88

Trend

4- Hour chart

Value

 

 

55 EMA

214.96

CMP >value

Bullish

200- EMA

213.34

CMP >value

Bullish

365- EMA

212.25

CMP >value

Bullish

 Major support- 215/214.50/ 213.80/212.30/211.80/211.30/210.40. Major resistance 216/217/218.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

110.60

ADX

Bullish

Strength increased from 14.03 to 19.69

It is good to buy on dips around 215, with an SL around 214, for a TP of 217.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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