💡The chart shows a technical analysis of the GBPJPY currency pair on the 4-hour timeframe. The price is moving within an ascending channel. There are repeated bounces from the upper channel line, as shown, indicating strong resistance at these levels. The price reached the upper channel line and rebounded, indicating strong selling pressure at this level. There is a possibility of a continued decline toward the lower channel line, as shown.
The green area (S.1) represents a potential support zone from which the price may rebound in the future. MACD Indicator: Currently, the upward momentum appears to be fading, supporting the possibility of a continued decline to S.1.
⛔️Not investment advice for educational purposes only.
The green area (S.1) represents a potential support zone from which the price may rebound in the future. MACD Indicator: Currently, the upward momentum appears to be fading, supporting the possibility of a continued decline to S.1.
⛔️Not investment advice for educational purposes only.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.