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Sterling's Shine Fades: GBPJPY Sell-on-Rally Setup Targets 210.40 Breakdown

GBPJPY has traded down since the pound sterling lost its glitter. It dropped to an intraday low of 212.95; now it is about 213.72.

 

Technicals

CMP -213.72

Trend

4- Hour chart

Value

 

 

55 EMA

214.40

CMP >value

Bullish

200- EMA

213.88

CMP >value

Bullish

365- EMA

213.29

CMP >value

Bullish

 Major support-212.60/212/211.30/210.40/209.80. Major resistance 213.60/214.40/215/215.60/ 216/217/218.

 

Momentum indicator

Value

 

CCI(50)

-169

Bearish

ADX

Strength increased form 16.15 to 20.24

Bearish

 It is good to sell on rallies around 213.60-65 with SL around 215 for a TP of 210.40.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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