1. Support Zone Around 193.500 – The price is testing a strong support level, indicating a potential reversal.
2. Projected Upward Movement – The price is expected to climb towards the 196.000 level.
3. Bullish Market Structure – The zigzag pattern suggests a series of higher highs and higher lows, supporting an upside move.
4. Fundamental Influence – The upcoming economic event (denoted by the red circle on the chart) may add volatility and confirm the trend.
Forecast for Monday:
If GBP/JPY holds support at 193.500, an upward push toward 196.000 is likely.
A breakdown below 193.500 could invalidate the bullish setup, leading to further downside.
2. Projected Upward Movement – The price is expected to climb towards the 196.000 level.
3. Bullish Market Structure – The zigzag pattern suggests a series of higher highs and higher lows, supporting an upside move.
4. Fundamental Influence – The upcoming economic event (denoted by the red circle on the chart) may add volatility and confirm the trend.
Forecast for Monday:
If GBP/JPY holds support at 193.500, an upward push toward 196.000 is likely.
A breakdown below 193.500 could invalidate the bullish setup, leading to further downside.
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.
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.