GBPJPY likely to rebound
GBPJPY currently sits at the support of the upward sloping trend line suggesting limited downside potential, it ended in a small doji candlestick formation on Friday supporting the above observation. RSI has risen slightly supporting the above observation and indicating further upside potential. It is likely that GBPJPY could rise towards 150.25 and 150.90 while it sustains above 148.85.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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