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GBPJPY Technical analysis 18 July 2018

2018-07-18 11:08 am | Resource: Technical Analysis | No Views : 252

Time frame Used - four hours
GBPJPY is moving in a bearish direction in the near term
The bears managed to control the pair's GBPJPY to violated 147.65 level down to turn the trend to bearish in the near term
Look at technical indicators
The Relative Strength Index (RSI) indicating to decline of the indicator to downside
Accordingly, we expect that pair’s the GBPJPY will drop to levels of 146.15 - 146.05
The alternative scenario is that the GBPJPY breakout level of 147.65 higher to test the 148.50 level
Resistance: 147.65 - 148.50 - 149.12
Support: 146.78 - 146.17 - 145.50
Direction: Down
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