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GBP/JPY Breakdown: Bears Target 207.60 as Major Moving Averages Cap Recovery Attempts

GBPJPY  has declined once again after a minor jump above 211. It is now trading around 209.66 after reaching an intraday low of 209.57.

 

Technicals

CMP -209.57

Trend

4- Hour chart

Value

 

 

55 EMA

210.22

CMP <value

Bearish

200- EMA

210.44

CMP < value

Bearish

365- EMA

210.19

CMP <value

Bearish

 

Major support- 209.35/208. Major resistance - 212/213.15/214.

 

Momentum indicator

Inference

Value

CCI(50)

Neutral

 

ADX

Neutral

 

 

It is good to sell on rallies around 210.28-30 with SL around 211.35 for a TP of 207.60

 

 

 

 

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