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GBP/JPY Slips Below 210 as Yen Surge Turns Rallies into Selling Opportunities

 

 

 

 

GBPJPY declined below 110 level as yen gained sharply.  It hits an intraday low of 208.97 and is currently trading around 209.95.

 

 

Technicals

CMP -209.68

Trend

1- Hour chart

Value

 

 

55 EMA

211.59

CMP is less than value

Bearish

200- EMA

212.40

CMP is less than value

Bearish

365- EMA

212.31

CMP is more than value

Bullish

 

Major support- 207.75/206.75/205.

 

Momentum indicator

Inference

Value

CCI(50)

below zero line (bearish)

-154

ADX

Neutral

Strength declined to 51.40 from  52.77

II is good to sell on rallies around 210.26-30 with SL around 211 for a TP of 208.

 

 

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