Open Demo Account
Home / Technical Analysis / Daily Technical Analysis / GBP/JPY: Witnessing Positive Moves
GBP, Pound, Technical Analysis

GBP/JPY: Witnessing Positive Moves

Adel 27 April, 2021 11:30 am Daily Technical Analysis, Technical Analysis

The pound against the Japanese yen was able to achieve our bullish targets located at 150.45, recording its highest price during the previous session’s trading at 150.60.

On the technical side today, the bullish bias still dominates the pair’s movements, depending on the stability of trading above the 50-day moving average, which meets around the support level of 149.70.

The bullish scenario will remain valid and effective, targeting 150.70 the first target, and 151.15 after it. Activating the bullish scenario requires stability above 149.70.

Note: Stochastic is trading around overbought areas.

S1: 149.70R1: 150.70    
S2: 149.20 R2: 151.15    
S3: 148.75  R3: 151.70   

Tags

Check Also

Oil faces negative pressure 14/11/2024

US crude oil futures have reached the official target outlined in our previous technical report, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends