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Sterling Surge: GBPJPY Rebounds from Fibonacci Support as Yen Weakness Persists

GBPJPY found support close to 38.2% fib and had a decent rebound on board-based weakness in the Yen. It reached an intraday high of 215.21 today; it is currently trading at approximately 215.157.

 

Technicals

CMP -215.21

Trend

4- Hour chart

Value

 

 

55 EMA

214.39

CMP >value

Bullish

200- EMA

212.77

CMP >value

Bullish

365- EMA

211.78

CMP >value

Bullish

 Major support-  213.80/212.30/211.80/211.30/210.40/209.48/208. Major resistance 216/217/218.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

10.91

ADX

Neutral

 

 

It is good to buy on dips around 215 with SL around 213.80 for a TP of 217.

 

 

 

 

 

 

 

 

 

 

 

 

 

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