GBP/JPY may fall to 185.75 - 188.90
BY Trading Central
|November 19, 2024ST: target 185.75
Our pivot point is at 200.32.
Our preference
Target 185.75.
Alternative scenario
The upside breakout of 200.32, would call for 205.64 and 208.81.
Comment
The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (197.41) but above its 50 period moving average (194.21).
Supports and resistances
208.81 **
205.64 *
200.32 **
198.23
195.35 last
188.90
185.75 **
182.59 *
179.44 **
Number of asterisks represents the strength of support and resistance levels.
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