GBP/JPY may rise to 204.37 - 208.69

ST: the upside prevails as long as 189.55 is support

Our pivot point is at 189.55.

Our preference

The upside prevails as long as 189.55 is support.

Alternative scenario

The downside breakout of 189.55 would call for 182.30 and 177.99.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 192.84 and 190.47).

Supports and resistances

217.34 **

213.02 *

208.69 **

204.37

195.49 last

192.40

189.55 **

182.30 *

177.99 **

Number of asterisks represents the strength of support and resistance levels.

© 2024 Trading Central. All Rights Reserved. The information contained herein: (1) is proprietary to Trading Central and/or its content providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely; and, (4) does not constitute advice or a recommendation by TIO Markets Ltd, Trading Central or its content providers in respect of the investment in financial instruments. Neither TIO Markets Ltd nor Trading Central nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Pricing, historical chart data and fundamental company data are provided by Morningstar Research Inc.

Technical Event® is a registered trademark of Trading Central.

Trading Central products and services are protected under U.S. Patent Nos.: 6,801,201; 7,469,226; 7,469,238; 7,835,966; and 7,853,506; and corresponding foreign patents.

Join us on social media

Trading Central

Related Posts

Analysis

Silver may fall to 26.40 - 28.60

ST: under pressure. Pivot 33.10 Our preference Short positions below 33.10 with targets at 28.60 & 26.40 in extension. Alternative scenario Above 33.10 look for further upside with 34.8...

Analysis

Weekly market analysis from 2nd December

This week’s economic calendar is packed with key data releases and events that could drive market volatility across forex, commodities, and equities. The highlight was U.S. economic indicator...

Analysis

GBP/USD may fall 27 - 47 pips

Intraday: the downside prevails. Pivot 1.2670 Our preference Short positions below 1.2670 with targets at 1.2615 & 1.2595 in extension. Alternative scenario Above 1.2670 look for furthe...

Analysis

Gold may rise to 2668.00 - 2688.00

Intraday: further upside. Pivot 2642.00 Our preference Long positions above 2642.00 with targets at 2668.00 & 2688.00 in extension. Alternative scenario Below 2642.00 look for further d...