Posted on the 19 September 2019 by Merks50
GBP/JPY intraday: below its lower Bollinger band
135.38 is our pivot point.
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 135.14 and 135.05). Finally, the GBP/JPY has penetrated its lower Bollinger band (134.77).
Alternative scenario:
the upside breakout of 135.38, would call for 135.98 and 136.33.
Our preference:
the downside prevails as long as 135.38 is resistance.

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