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Sterling Stalls: GBPJPY Consolidates as Technical Bias Tilts Toward the Downside

GBPJPY has traded in a narrow range between 214.04 and 211.75 in the past three days. Today it hits an intraday high of 213.68; now it is trading at about 213.60.

 

Technicals

CMP -213.60

Trend

4- Hour chart

Value

 

 

55 EMA

213.10

CMP >value

Bullish

200- EMA

214.13

CMP <value

Bearish

365- EMA

214.22

CMP <value

Bearish

 Major support- 213/212.30/211.80/211.30/210.40. Major resistance 214/214.50/ 216/217/218.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-151.78

ADX

Neutral

 

 It is good to sell on rallies around 214 with SL around 215 for a TP of 210.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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