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GBP/JPY intraday: above its upper Bollinger band

2024-05-24
610

Our pivot point is at 198.86.

Our preference: the upside prevails as long as 198.86 is support.

Alternative scenario: the downside breakout of 198.86 would call for 198.02 and 197.52.

Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 199.36 and 199.38). Finally, the GBP/JPY is trading above its upper Bollinger band (standing at 199.56).

Supports and resistances:

202.15 **

201.66 *

201.16 **

200.66

199.59 last

199.18

198.86 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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