Magazine

Gbp/jpy

Posted on the 14 October 2019 by Merks50

GBP/JPY intraday: the downside prevails as long as 137.01 is resistance
Our pivot point is at 137.01.
Comment:
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 136.67 and 136.57).
Alternative scenario:
the upside breakout of 137.01, would call for 137.62 and 137.98.
Our preference:
the downside prevails as long as 137.01 is resistance.