FenzoFx—The GBP/JPY currency pair bounced from 184.42 due to RSI 14 being oversold. As of now, it trades near 187.7, having erased 1.0% of recent gains.
The trend remains bearish with prices below the 50-period simple moving average and the 50.0% Fibonacci resistance level at 190.2. Support is at 187.0, and a drop below this could target 184.42.
The Bullish Scenario
However, if GBP/JPY surpasses 190.2, bullish momentum may extend to 192.0.
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The trend remains bearish with prices below the 50-period simple moving average and the 50.0% Fibonacci resistance level at 190.2. Support is at 187.0, and a drop below this could target 184.42.
The Bullish Scenario
However, if GBP/JPY surpasses 190.2, bullish momentum may extend to 192.0.
Enter our Forex Analysis Contest to win a prize pool of $160.0 every week >>> FenzoFx Decentralized Forex Broker
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
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.