Forex

GBP/JPY may rise 73 - 110 pips

2024-07-23

202.42 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 202.42, expect 201.81 and 201.44.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (202.71) but below its 50 period moving average (203.03).

Supports and resistances

204.74 **

204.37 *

204.01 **

203.64

202.91 last

202.66

202.42 **

201.81 *

201.44 **

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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