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Sterling’s Steady Ascent: GBPJPY Tests the 213.31 Resistance Amid a Two-Week Consolidation

For the past two weeks, GBPJPY has been consolidating within a limited range of 213.31 to 210.80. It reached an intraday high of 213.11; now trading about 213.11.

Technicals

CMP -213.11

Trend

4- Hour chart

Value

 

 

55 EMA

212.19

CMP >value

Bullish

200- EMA

211.35

CMP > value

Bullish

365- EMA

210.54

CMP >value

Bullish

 Major support-  212.25/211.95/211.35/210.70/210/209.48/208. Major resistance - 213.31/214/215.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

125.83

ADX

Neutral

 

 

It is good to buy on dips around 213 with SL around 211.95 for a TP of 215.

 

 

 

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