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FxWirePro: GBP/JPY Trade Idea

Monday, November 5, 2018 7:32 AM UTC

GBP/JPY chart on Trading View used for analysis

FxWirePro Currency Strength Index for GBP/JPY: Bias Bullish
FxWirePro's Hourly GBP Spot Index was at 148.703 (Bullish)
FxWirePro's Hourly JPY Spot Index was at -140.587 (Bearish)

Technical Analysis: Bias Bullish
- Pivotal around 200-DMA
- Breaks above daily cloud
- RSI above 50, bias higher
- Momentum studies bullish

Support levels - 146.33 (110-EMA), 146 (21-EMA)
Resistance levels - 147.41 (200-DMA), 148, 149.60 (trendline)

Recommendation: Stay long on breakout at 200-DMA, SL: 146.30, TP: 148, 149, 149.60

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: GBP/JPY Trade Idea

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