GBPJPY – Uptrend intact
GBPJPY has been trading in a higher top higher bottom formation suggesting the trend to be bullish in the near term, positive slope of the 20-day SMA corroborates the above observation, RSI in buy mode indicates it could continue to rise further. It would be prudent to say that the pair could rise further towards 144.00 and 144.90 while it sustains above 142.00.
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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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