The primary trend of GBPJPY is bullish on charts. In its hourly chart, the pair is sustaining above its rising trend line. Prices are consolidating with strong negative bias and its 30 DMA is also providing resistance to the prices supporting the further down-trend.
Support level 185.20
If it breaks its support level & sustains below it then it is expected to show further bearish movement in next few days.
RSI - Prices are sustaining near the selling territory, indicating the downside movement in the market.
STRATEGY:- GBPJPY is looking bearish on charts for next few session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
Support level 185.20
If it breaks its support level & sustains below it then it is expected to show further bearish movement in next few days.
RSI - Prices are sustaining near the selling territory, indicating the downside movement in the market.
STRATEGY:- GBPJPY is looking bearish on charts for next few session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.