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Pound Under Pressure: GBPJPY Pauses Five-Day Rally for Tactical Profit Booking

GBPJPY showed a little profit-taking and stopped its five-day winning streak. At 212.48, it reaches an intraday low; now trading around 212.50.

Technicals

CMP -212.50

Trend

4- Hour chart

Value

 

 

55 EMA

212.46

CMP> value

Bullish

200- EMA

211.42

CMP > value

Bullish

365- EMA

210.99

CMP > value

Bullish

 

Major support- 212.35/211.85/211/210.70/210/209.48/208. Major resistance - 213.15/214/215.

 

Momentum indicator

Inference

Value

CCI(50)

Neutral

7.71

ADX

Neutral

 

 

It is good to buy on dips around  212.38-40 with SL around 210.50  for a TP of 214.

 

 

 

 

 

 

 

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