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The GBPJPY pair rose over 200 pips from a modest bottom of 207.23 as the yen weakened as a result of Japan's fiscal health still being a big worry, given its enormous public debt, 229% of GDP. It is presently trading around 209.12 and has hit an intraday high of 209.54.
|
Technicals |
CMP -209.12 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
208.72 |
CMP > value |
Bullish |
|
200- EMA |
209.53 |
CMP < value |
Bearish |
|
365- EMA |
210.32 |
CMP < value |
Bearish |
Major support- 208.50/208/207.50/206.75/205. Major resistance - 210/210.35/211
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
above zero line (slightly bullish) |
127.76 |
|
ADX |
Bullish |
Strength jumped from 23.35 to 25.56 |
It is good to sell on rallies around 209.48-50 with SL around 210.35 for a TP of 207.
