GBP/JPY BREAKTHROUGH AND CONFIRM 1.618 FIBONACCI
The GBP/JPY pair displays a modest bounce in early Tokyo after a correction to nearly 166.43 on Wednesday. The cross lost strength after hitting a multi-year high of 168.43 amid broader weakness in the Japanese yen. The pound bulls are performing strongly against the yen from a longer-term perspective, led by higher expectations of a tight policy stance by the Bank of England (BOE) in May. A significant jump in the UK’s inflation has bolstered the odds of one more rate hike by the BOE in May.
Looking at our oscillator indicators both MACD and RSI show that the price is strongly in the overbought zone, and bears are ready for a deep correction. But the only way to wake up the bears is for the traders will see an apparent dip and test below 164.00. Till then, the bulls will rule the situation, and we can see a new high.
Looking at our oscillator indicators both MACD and RSI show that the price is strongly in the overbought zone, and bears are ready for a deep correction. But the only way to wake up the bears is for the traders will see an apparent dip and test below 164.00. Till then, the bulls will rule the situation, and we can see a new high.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFDs) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
Looking at our oscillator indicators both MACD and RSI show that the price is strongly in the overbought zone, and bears are ready for a deep correction. But the only way to wake up the bears is for the traders will see an apparent dip and test below 164.00. Till then, the bulls will rule the situation, and we can see a new high.
Looking at our oscillator indicators both MACD and RSI show that the price is strongly in the overbought zone, and bears are ready for a deep correction. But the only way to wake up the bears is for the traders will see an apparent dip and test below 164.00. Till then, the bulls will rule the situation, and we can see a new high.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFDs) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.