Forex

GBP/JPY may rise 99 - 148 pips

2024-06-07

Our pivot point is at 198.99.

Our preference

The upside prevails as long as 198.99 is support.

Alternative scenario

The downside breakout of 198.99 would call for 198.18 and 197.70.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 199.08 and 199.14).

Supports and resistances

202.19 **

201.71 *

201.23 **

200.74

199.75 last

199.31

198.99 **

198.18 *

197.70 **

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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