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GBPJPY Consolidation: Strategic Sell-on-Rallies as Bearish Grip Tightens

 

 

For the previous two days, GBPJPY has been consolidating in a tight range between 209.18 and 210.74. Having hit an intraday low of 209.18, it is presently trading around 209.515.

 

Technicals

CMP -209.52

Trend

4- Hour chart

Value

 

 

55 EMA

210.01

CMP <value

Bearish

200- EMA

210.11

CMP < value

Bearish

365- EMA

210.18

CMP <value

Bearish

 

Major support- 210/209.48/208. Major resistance - 212/213.15/214

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-76

ADX

Neutral

 

 

It is good to sell on rallies around 210.28-30 with SL around 211.35 for a TP of 207.60. 

 

 

 

 

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