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GBPJPY Crumples Under Broad Dollar Strength: Sterling Bulls Retreat

 

 

 

Demand for the dollar pulled the pound sterling down, causing GBPJPY to lose most of its gains. Today hits an intraday low of 211.43; now it is trading at about 211.60.

 

Technicals

CMP -211.60

Trend

4- Hour chart

Value

 

 

55 EMA

213.29

CMP <value

Bearish

200- EMA

213.44

CMP <value

Bearish

365- EMA

212.74

CMP >value

Bearsih

 Major support-211.30/210.40/209.80/209. Major resistance 212.50/213.60/ 214/214.50/ 216/217/218.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-202.80

ADX

Bearish

Strength increased from 28.37 to 36.57

 It is good to sell on rallies around 212 with SL around 213 for a TP of 210.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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