GBP/JPY intraday: the downside prevails as long as 138.18 is resistance

Trading Central 2020-11-19 07:22:04

Our pivot point stands at 138.18.

Our preference: the downside prevails as long as 138.18 is resistance.

Alternative scenario: above 138.18, look for 138.72 and 139.05.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 137.88 and 137.95).

Supports and resistances:

139.05 **

138.72 *

138.18 **

137.97

137.71 last

137.04

136.71 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

6 Reasons To Open An Account

Multi-language 24/7 professional support

Fast, convenient fund and withdrawals

Free demo account $10,000

International recognition

Real-time quotes with push notification

Professional market analysis broadcast