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GBPJPY Caught in a Tight Range: Bearish EMAs Suggest a Breakout Awaits

GBPJPY has traded in a narrow range between 212.38 and 215.63 for the past two weeks. It hits an intraday low of 212.61; now it is about 212.60.

 

Technicals

CMP -212.75

Trend

4- Hour chart

Value

 

 

55 EMA

213.92

CMP <value

Bearish

200- EMA

213.99

CMP <value

Bearish

365- EMA

213.56

CMP <value

Bearish

 Major support- 212.60/212/211.30/210.40/209.80. Major resistance 213.50/214/214.70/215.25/215.60/ 216/217/218.

 

Momentum indicator

Value

 

CCI(50)

-68.95

Bearish

ADX

 

Neutral

 It is good to sell on rallies around 213 with SL around 215.20 for a TP of 210.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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