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GBP/JPY Pullback Deepens: Sell-on-Rallies Strategy Targets 207.00 Support

GBPJPY pared some of its gains after a minor pullback. It reached an intraday low of 208.71; now it is about 208.93.

 

Technicals

CMP -208.93

Trend

1-hour

Value

 

 

55 EMA

209.73

CMP <value

Bearish

200- EMA

211.80

CMP >value

Bearish

365- EMA

212.95

CMP >value

Bearish

 Major support- 208/207/205. Major resistance: 209.70/210.20/211.60/212.66/213/214/215.

 

Momentum indicator

Value

 

CCI(50)

Bearish

-37

ADX

Neutral

 

 It is good to sell on rallies around 208.58-60 with SL around 209.50 for a TP of 207.

 

 

 

 

 

 

 

 

 

 

 

 

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