Technical analysis of GBP/JPY for April 16, 2018 888011000 110888 GBP/JPY is expected to trade with a bullish outlook. The set rebounded from 152.60 and broke above its 20-period and 50-period moving averages. The relative strength index is bullish and calls for a more upside. To conclude, as long as 152.60 hangs on the drawback, try to find a new rise with targets at 152.35 and 151.90 in extension.Chart Explanation: The black line reveals the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it stays listed below the pivot point, it will suggest short positions. The red lines show the assistance levels, while the green line suggests the resistance levels. These levels can be used to leave and enter trades.Resistance levels: 153.85, 154.25, and 155 Support levels: 152.35, 151.90, and 151.00. The material has actually been provided by InstaForex

By | April 16, 2018

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