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GBP/JPY intraday: look for a drop towards 190.16 before a bounce

2024-02-26
378

Our pivot point stands at 190.16.

Our preference: look for a drop towards 190.16 before a bounce.

Alternative scenario: the downside breakout of 190.16 would call for 189.64 and 189.34.

Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 190.72 and 190.71).

Supports and resistances:

192.31 **

192.00 *

191.70 **

191.39

190.75 last

190.36

190.16 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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