GBP/JPY intraday: below its lower Bollinger band
Our pivot point stands at 131.16.
Comment:
the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 131.78 and 131.88). Finally, the GBP/JPY is trading below its lower Bollinger band (standing at 131.64).
Alternative scenario:
the downside breakout of 131.16 would call for 130.58 and 130.23.
Our preference:
rebound towards 132.79.
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