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Analysis

GBP/JPY may rise 93 - 137 pips

BY Trading Central

|May 21, 2024

Intraday: as long as 198.20 is support look for 200.22

 intraday: as long as 198.20 is support look for 200.22

Our pivot point stands at 198.20.

Our preference

As long as 198.20 is support look for 200.22.

Alternative scenario

Below 198.20, expect 197.45 and 197.01.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 198.70 and 198.32).

Supports and resistances

201.11 **

200.67 *

200.22 **

199.78

198.85 last

198.49

198.20 **

197.45 *

197.01 **

Number of asterisks represents the strength of support and resistance levels.

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