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GBPJPY Pulls Back on Profit Booking but Bullish Setup Holds: Buy Dips Toward 223

GBPJPY pared some of its gains due to profit booking. It hit a high of 219.61this week ; now it is around 218.07.

 

Technicals

CMP -218.07

Trend

1-hour

Value

 

 

55 EMA

217.42

CMP >value

Bullish

200- EMA

215.66

CMP >value

Bullish

365- EMA

214.78

CMP >value

Bullish

 Major support- 217.90/217.20/216.40/215.80/215. Major resistance 220.20/223/225.97.

 

Momentum indicator

Value

 

CCI(50)

88.96

Bullish

ADX

 

Neutral

 It is good to buy on dips around 217.90, with an SL around 217, for a TP of 220.15/223.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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