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GBPJPY Peaks at 212.12 Before Profit-Taking Hits — Bulls Still in Control, Buy the Dip to 214

Profit-taking caused the GBPJPY to trim off some of its gains. It is now trading around 210.95 after reaching an intraday high of 212.12.

 

Technicals

CMP -210.84

Trend

4- Hour chart

Value

 

 

55 EMA

210.89

CMP > value

Bullish

200- EMA

209.95

CMP > value

Bullish

365- EMA

210.14

CMP > value

Bullish

 

Major support- 210.50/210/209.48/208. Major resistance - 212/213.15/214

 

Momentum indicator

Inference

Value

CCI(50)

Neutral

5.66

ADX

Neutral

 

 

It is good to buy on dips around 210.68-70 with SL around 209.80 for a TP of 214.

 

 

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