SUMMARY :- The
secondary trend of GBP/JPY is bearish, The pair is taking support of
rising trend line & consolidating with a negative bias. If the
pair sustains below 175.70 levels, it can come down to the levels of
174.50. Prices are also taking the resistance from 30 SMA & 200
SMA, supporting the downside movement in the pair. RSI is also
sustaining in selling territory, indicating the bearish sentiment in
the market.
STRATEGY:-
For Today GBP/JPY is looking weak on chart. We can expect downside
movement for few upcoming session. One can go for sell on higher
level strategy for this pair for intra day to mid term positions.
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| Technical Chart |
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