Technical Analysis :
GBP/JPY is having sideways secondary trend on charts. In
its hourly chart, the pair is not sustaining at higher levels and
consolidating with strong negative bias to give break out at
downside. Its 30 and 200 DMA are also supporting the upcoming bearish
trend in the pair. It is facing an important support at the level of
185.30. If it breaks its support level at downside then we can expect
it show further bearish movement in the pair.
Indicators:
MACD is sustaining in selling territory indicating the
upcoming bearish trend in the pair.
Trading Strategy:
GBP/JPY
is
looking bearish on charts for next few trading session. One can go
for sell on higher level strategy for this pair for intra day to mid
term positions.
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