Forex

GBP/JPY may rise 98 - 142 pips

2024-06-14

199.79 is our pivot point.

Our preference

Rebound towards 201.81.

Alternative scenario

The downside breakout of 199.79 would call for 199.06 and 198.62.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (200.29) but under its 50 period moving average (200.59).

Supports and resistances

202.68 **

202.24 *

201.81 **

201.37

200.39 last

200.08

199.79 **

199.06 *

198.62 **

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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