Chart pattern- Bearish divergence (CCI (50) and RSI(14)
GBPJP was one of the best performers this week and jumped more than 500 pips on the strong pound sterling. It hits an intraday high of 180.63 and is currently trading around 180.34.
It is good to sell on rallies around 180.58-60 with SL around 182 40 for a TP of 175.55.
Comment
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Any break below 179.90 confirms further bearishness. A decline to 178 is possible