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Breakdown Alert: GBPJPY Sinks Below Key 210 Level, Bears Target 207.55

GBPJPY  breaks significant support 210 as yen increases due to safe-haven demand.  It is now trading around 209.71 after reaching an intraday low of 209.35.

 

Technicals

CMP -209.44

Trend

4- Hour chart

Value

 

 

55 EMA

210.35

CMP <value

Bearish

200- EMA

210.09

CMP < value

Bearish

365- EMA

210.19

CMP <value

Bearish

 

Major support- 210.50/210/209.48/208. Major resistance - 212/213.15/214

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-112.68

ADX

Neutral

 

 

It is good to sell on rallies around 210 with SL around 211 for a TP of 207.55

 

 

 

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