Current Market Conditions:
Price: 193.970
Support Level: ~193.000
Resistance Level: ~196.000
Projected Move: The price is expected to move in a bullish trend toward 196.000 after some consolidation near the support zone.
Forecast Analysis:
Bullish Trend: The price is forming a higher low pattern, indicating continued strength in the uptrend.
Breakout Potential: If GBP/JPY breaks above 196.000, further gains are possible.
Key Levels to Watch:
Support: 193.000 (If it breaks below this level, the bullish outlook may weaken)
Resistance: 196.000 (If it breaks above, further upside is likely)
Trading Strategy Suggestion:
Buy Entry: Near 193.500–194.000
Stop Loss: Below 193.000
Target: 196.000 (with potential continuation if momentum remains strong)
Price: 193.970
Support Level: ~193.000
Resistance Level: ~196.000
Projected Move: The price is expected to move in a bullish trend toward 196.000 after some consolidation near the support zone.
Forecast Analysis:
Bullish Trend: The price is forming a higher low pattern, indicating continued strength in the uptrend.
Breakout Potential: If GBP/JPY breaks above 196.000, further gains are possible.
Key Levels to Watch:
Support: 193.000 (If it breaks below this level, the bullish outlook may weaken)
Resistance: 196.000 (If it breaks above, further upside is likely)
Trading Strategy Suggestion:
Buy Entry: Near 193.500–194.000
Stop Loss: Below 193.000
Target: 196.000 (with potential continuation if momentum remains strong)
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.