GBPJPY is trading near the 20-day SMA suggesting support near current levels, it currently also stands at the support of the upward sloping trend line signifying it could rebound in the coming sessions. On the short term 4-hour charts the pair has ended in a series of doji candlestick formation supporting our observation, RSI has also started rising which signifies that GBPJPY could advance in the near term. It would be prudent to say that GBPJPY could rise towards 137.00 & 137.50 while it sustains above 136.00.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.