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GBPJPY Retreats as Yen Strengthens: Bears Target 208 Amid Accelerating Downward Momentum

GBPJPY  pared some of its gains as yen gains momentum.It reached an intraday low of 211.09; now it is about 211.23. 

Technicals

CMP -211.23

Trend

1-hour

Value

 

 

55 EMA

215.99

CMP <value

Bearish

200- EMA

215.77

CMP >value

Bearish

365- EMA

215.46

CMP >value

Bearish

 Major support- 210/209.55/208. Major resistance: 212/212.66/213/214/215.

 

Momentum indicator

Value

 

CCI(50)

-416

Bearish

ADX

Strength increased from 15.80 to  39

Bearish

 It is good to sell on rallies around 211.78-80, with SL around 213 for a TP of 208

 

 

 

 

 

 

 

 

 

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