GBPJPY is testing trend support, but buyers are keeping the price away from risk zones. The currency pair is returning to the bullish zone relative to 193.5, which generally opens up the market to 195.0-197.0 upside potentialOn W1, the currency pair after a false breakdown of global resistance is moving back to 195.844, which generally tells us about the strength of buyers. Interventions by the central bank of Japan played a short-term role and the news leverage has exhausted itself. Traders continue to put on short positions and still sell the national currency, which in general only strengthens the pound against the yen.
Consolidation above 193.5 confirms the bulls' intentions to continue the growth.
Resistance levels: 194.15, 195.56, 197.38.
Support levels: 193.54, 193.0
A retest of the local resistance at 194.15 is being formed. A breakdown and consolidation above this level will cause further growth towards the previously mentioned targets.
Regards R. Linda!
Trade active
Consolidation is forming above the key level. The pair is preparing to go higherTrade active
The first goal can be achieved in the near futureTrade active
The bullish momentum is actively developing, while the yen continues to weaken. Traders are betting that the national currency of Japan may lose a few percent in the near futureTrade active
Trade active
Trade active
Trade closed: target reached
Interim goal achievedThe currency pair may reach the key target next week
Trade active
There is an important level of 195.56 ahead. A pullback or consolidation before further growth is possible.Prospective target 197.4
Trade closed: target reached
Trade active
Note
The target of 197.38 is almost reachedPrice is testing the channel resistance and in general, part of the order can be closed
Trade closed: target reached
Note
Weakness in the Japanese Yen prevents the greasy pair from falling far. A retest of resistance is formingTrade closed: target reached
The end target has been reachedNote
Currency pair continues to strengthenThe main target of 200.56 may be reached in the nearest future, which may be followed by a pullback.
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🌹TRADING is a CASINO💔!?
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
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.