Sterling’s Brief Spark: GBPJPY Faces Resistance Walls Despite GDP Beat

GBPJPY gained slightly after upbeat  UK GDP data. Today it hits an intraday high of  213.48 ; now it is trading at about 213.39.

 

Technicals	CMP -213.44	Trend
4- Hour chart	Value
55 EMA	213.53	CMP <value	Bearish
200- EMA	213.49	CMP <value	Bearish
365- EMA	212.72	CMP >value	Bullish

 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)	Bullish	52.33
ADX	Neutral

 It is good to sell on rallies  around 213.48-50 with SL around 214.50 for a TP of 210.