GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206 
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GBPJPY Bulls on Guard: Buy the Dip at 206 as Support Holds Firm – Target 208 in Sight 
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GBPJPY showed a massive gap-up opening on board-based Yen weakness. Presently trading around 201.93, the pair hit an intraday high of 201.93.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 201.88
EMA (4-hour chart)
55-EMA- 199.34
200-EMA- 199.28
365-EMA- 198.67. The pair trades above the short and long-term moving averages.
Major low- 201.10. Any breach below will drag the pair down to 200/199/198/196.95/195.80/195.80/195.
Recent high - 202.25 (Today’s high). Any break above 202.50 confirms minor bullishness; a jump to 203.60/205 is possible.
Indicator (4 hour chart)
CCI (50)- Bullish
Average directional movement Index- Bullish. All indicators confirm a Bullish trend.
It is good to buy on dips around 201.25-28 around 200 with SL around 199 for TP of 203.
