Latest Articles

HomeLatestGBP/JPY Postpones Decline – Forecast for June 18, 2024
Advertisements

GBP/JPY Postpones Decline – Forecast for June 18, 2024

GBP/JPY Price Analysis

Advertisements

The GBP/JPY pair encountered resistance at the 199.00 level, establishing new support against the correctional bearish wave. This led to a postponement of the decline and the formation of some bullish waves, settling near 200.40.

Advertisements

Currently, positive stability above the additional support at 199.45 increases the likelihood of new bullish waves breaking through the 200.75 obstacle. This could lead to further gains, targeting 201.25 and eventually reaching the major medium-term resistance at 202.40.

Advertisements

Expected Trading Range

  • Support: 199.60
  • Resistance: 201.25

Trend Forecast: Bullish

Related topics:

Advertisements
Advertisements