GBP/JPY intraday: above its upper Bollinger band

Trading Central 2020-11-19 18:34:05

Our pivot point is at 137.21.

Our preference: rebound.

Alternative scenario: the downside breakout of 137.21 would call for 136.67 and 136.35.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the pair stands above its 20 MA (137.42) but below its 50 MA (137.69). Finally, the GBP/JPY is trading above its upper Bollinger band (standing at 137.65).

Supports and resistances:

139.28 **

138.96 *

138.64 **

138.31

137.66 last

137.43

137.21 **

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.

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