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GBPJPY Weakens on Soft UK CPI: Sell Below 217.80 Targeting 216.40

GBPJPY trades marginally negative as poor UK CPI raises BOE's rate cut possibilities. It reaches an intraday low of 217.83; now it is about 217.95.

 

Technicals

CMP -217.96

Trend

1-hour

Value

 

 

55 EMA

218.28

CMP <value

Bearish

200- EMA

217.93

CMP >value

Bullish

365- EMA

217.25

CMP >value

Bullish

 Major support- 217.50/217.20/216.40/215.80/215. Major resistance 218.35/218.80/219060/220/223/225.97.

 

Momentum indicator

Value

 

CCI(50)

-161.75

Bearish

ADX

Strength increased from 12.68 to 17.94

Bearish

 It is good to sell below 217.80 with SL around 218.40 for a TP of 216.40/216.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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