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Sterling’s Six-Week Streak Snaps: GBPJPY Slumps Toward 210.00 as Bearish Momentum Intensifies

Weak pound sterling stopped GBPJPY's six-week winning streak and trimmed some of its profits. Yesterday it dropped to 210.20; now it is trading at about 210.82.

 

Technicals

CMP -210.82

Trend

4- Hour chart

Value

 

 

55 EMA

212.06

CMP <value

Bearish

200- EMA

211.52

CMP < value

Bearish

365- EMA

210.74

CMP >value

Bullish

 Major support-  210/209.48/208. Major resistance - 211.40/212.20/213.31/214/215.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-173

ADX

Bearish

 Strength increased from 13.70 to 28

 

It is good to sell on rallies around 211.48-50 with SL around 212.20 for a TP of 209.80/208.

 

 

 

 

 

 

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