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.
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Technicals
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CMP -210.82
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Trend
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4- Hour chart
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Value
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55 EMA
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212.06
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CMP |
Bearish
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200- EMA
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211.52
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CMP < value
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Bearish
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365- EMA
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210.74
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CMP >value
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Bullish
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Major support- 210/209.48/208. Major resistance – 211.40/212.20/213.31/214/215.
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Momentum indicator
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Inference
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Value
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CCI(50)
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Bearish
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-173
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ADX
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Bearish
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Strength increased from 13.70 to 28
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It is good to sell on rallies around 211.48-50 with SL around 212.20 for a TP of 209.80/208.
