Forex

GBP/JPY may rise to 210.91 - 213.47

2024-07-16

201.64 is our pivot point.

Our preference

As long as 201.64 is support look for 213.47.

Alternative scenario

Below 201.64, expect 197.36 and 194.81.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 203.29 and 199.31).

Supports and resistances

218.59 **

216.03 *

213.47 **

210.91

205.44 last

203.33

201.64 **

197.36 *

194.81 **

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

Trade with Exness

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.

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