Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

GBP/JPY Intraday Outlook: Bears in Control Below 195

GBP/JPY  showed a minor pullback as the pound sterling gained strength. It hit an intraday high of 193.75 and is currently trading around 193.52.  Intraday trend is bearish as long as resistance 195 holds.

The GBP/JPY pair is trading below  34 and above 55 EMA (Short-term) and  200 EMA (long term on the 1-hour chart, confirming a bearish trend.  Immediate resistance is at 194,a breach above this level targets of 194.70/195/196.50.  Downside support is at 193.50/193/192.35/191.70.

Market Indicators (4- hour)

CCI (50)- Bearish

Directional movement index - neutral

Trading Strategy: Sell on rallies

 It Is good to sell on rallies around 194 with SL around 195  for a TP of 191.70/190.

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.