- GBP/JPY Price Analysis: Bulls eye 175.00 on a break of critical resistance
Noticias del mercado
25 mayo 2023
GBP/JPY Price Analysis: Bulls eye 175.00 on a break of critical resistance
- GBP/JPY bulls are pressing up against counter-trendline resistance.
- A break of there would open risk to 175.00.
GBP/JPY is trading around 172.40 at the time of writing with the price moving up from a low of 171.68 to a high of 172.45 so far. GBPJPY is testing the top of the box, as illustrated below. There are prospects of a breakout of the zone, one way or the other, with the upside bias currently in play.
GBP/JPY H4 chart
A break of 172.80 opens the risk of an upside continuation:
GBP/JPY weekly charts
However, the upside could be limited to the counter-trendline resistance. On the other hand, a break of here would open risk to 175.00.
Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerAbrir cuenta demo y página personal