Forex

GBP/JPY may rise 98 - 145 pips

2024-06-04

198.87 is our pivot point.

Our preference

Rebound towards 201.05.

Alternative scenario

Below 198.87, expect 198.08 and 197.60.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (199.56) but below its 50 period moving average (200.02).

Supports and resistances

202.00 **

201.52 *

201.05 **

200.58

199.60 last

199.19

198.87 **

198.08 *

197.60 **

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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