GBP/JPY technical analysis forecast update
GBP/JPY price staying in very interesting mode:
From a quick look at the charts, we can see a very similar pattern that shown at 2008 – that’s mean that The pair is in the processing facility last downward move from the peak mean a break of 162.80 resistance is confirmed medium term bottom is formed ,on bullish convergence condition in daily MACD. Intraday bias is on the upside for 38.2% retracement of 195.86 to 151.64 at 169-170 next. On the downside, break of 158-159 support is needed to signal short term topping. Otherwise, the trend could continue to test 169-170 price area and medium outlook will stay cautiously bullish
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gbpjpy technical analysis forecast next move
GBP/JPY break up 162 indicate short term bottom.
Support area for intraday correction stand on 160 and below 158
While price stays above 158 the pair is headed for more corrections- target area between 169-170
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice
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