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Pound Under Pressure as Yen Stabilizes: GBPJPY Bears Target 208 as Key EMAs Hold Resistance

 

GBPJPY showed a minor pullback as yen loses momentum.Yesterday it hits an high of 211.42; now it is trading at about 210.76.

 

Technicals

CMP -210.77

Trend

4- Hour chart

Value

 

 

55 EMA

211.60

CMP <value

Bearish

200- EMA

211.41

CMP < value

Bearish

365- EMA

210.70

CMP >value

Bullish

 Major support-  210/209.48/208. Major resistance - 211.40/212.20/213.31/214/215.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-73

ADX

Neutral

 

 

It is good to sell on rallies around 210.78-80 with SL around 212 for a TP of 208.

 

 

 

 

 

 

 

 

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