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GBPJPY Dip Opportunity: Enter Longs, Stop 207.65, Blast to 214

 

 

The GBPJPY pair trades flat between 207.23 and 209.64 for past one week. It hits an intraday low of 208.22 and is currently trading around 209.174.

Technicals

CMP -209.11

Trend

4- Hour chart

Value

 

 

55 EMA

208.85

CMP > value

Bullish

200- EMA

209.27

CMP < value

Bearish

365- EMA

209.97

CMP < value

Bearish

 

Major support- 207.50/206.75/205. Major resistance - 209.20/209.60/210/212/214

 

Momentum indicator

Inference

Value

CCI(50)

above zero line (slightly bullish)

51.38

ADX

Neutral

 

It is good to buy on dips around 208.68-70 with SL around 207.65 for a TP of 214

 

 

 

 

 

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