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GBPJPY Technical Check: Is the Dragon Running Out of Fire?

GBPJPY increased marginally amid broad-based Pound sterling depreciation. It reached an intraday high of 213.39 today and is currently trading at approximately 213.27.

 

Technicals

CMP -213.33

Trend

4- Hour chart

Value

 

 

55 EMA

213.58

CMP <value

Bearish

200- EMA

213.50

CMP <value

Bearish

365- EMA

212.64

CMP >value

Bullish

 Major support- 213/212.30/211.80/211.30/210.40. Major resistance 214/214.50/ 216/217/218.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-32.67

ADX

Neutral

 

 It is good to sell on rallies  around 213.48-50 with SL around 214.50 for a TP of 210.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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