empty
13.06.2024 07:04 AM
Technical Analysis of Intraday Price Movement of GBP/JPY Cross Currency Pairs, Thursday June 13 2024.

This image is no longer relevant

With the condition of the 50 EMA which is above the 200 EMA (Golden Cross) on the 4 hour chart of the GBP/JPY cross currency pair, we can find out that buyers are still in control of GBP/JPY at this time where the level of 200.91 will try to be tested in the near future. If this level is successfully broken upwards, GBP/JPY has the potential to continue its strengthening up to level 201.69 and if momentum and volatility support it, it is not impossible that level 202.17 will be the next target to be aimed at, however, due to the appearance of a deviation pattern between GBP/JPY price movements and the Stochastic indicator Oscillator, there is the potential for a weakening correction in the near future, but as long as the correction does not breaks below the 199.65 level, GBP/JPY still has the potential to continue its strengthening.

(Disclaimer)

Summary
Urgency
Analytic
Arief Makmur
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback