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GBP/JPY Daily Technical Analysis | 7 February 2018

2018-02-07 01:15 am | Resource: Technical Analysis | No Views : 268

Time frame Used - four hours
The GBP / JPY is moving in a sideway in the near-term
The purchasing power managed to control the GBP / JPY to bounce back from 151.15 to hit 153.10
And looking at  the technical indicators
Both the RSI and the Stochastic are indicating to the continued positive performance of the indicators
Accordingly, we expect the GBP / JPY to rebound in a corrective move to test the 153.56 level, which breached above will target the level of 154.49
  The alternative scenario is that GBP / JPY retreated to 151.15 again
  Resistance: 153.56 - 154.49 - 155.88
Support: 151.98 - 151.15 - 150.20
  Direction: sideway

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