empty
 
 
16.12.2024 07:32 AM
Technical Analysis of Daily Price Movement of GBP/JPY Cross Currency Pairs, Monday December 16, 2024.

This image is no longer relevant

On the daily chart, the GBP/JPY cross currency pair price movement can be seen moving above MA 10 and inside the Bullish Pitchfork channel plus confirmation with the appearance of Fractal Bar between the GBP/JPY price movement and the RSI indicator (5) which indicates that the 3 Timeframes below it indicate a Bull RSI deviation, so based on the facts above, in the next few days GBP/JPY has the potential to strengthen and rise where as long as there is no significant weakening correction to break through and close below the 188.06 level, GBP/JPY has the potential to strengthen and rise to the 199.77 level and if momentum and volatility support it, 206.82 will be the next target.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback