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GBP/JPY intraday: the downside prevails as long as 183.51 is resistance
2023-09-18
140
Our pivot point is at 183.51.
Our preference: the downside prevails as long as 183.51 is resistance.
Alternative scenario: the upside breakout of 183.51, would call for 184.45 and 185.01.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 183.03 and 183.21).
Supports and resistances:
185.01 **
184.45 *
183.51 **
183.15
182.77 last
181.60
181.04 **
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