Technical Analysis for GBP/JPY

Technical Analysis for GBP/JPY

The pair traded positively Friday to cancel the negative pattern’s effect mentioned in previous reports, signaling the return to the general uptrend that was halted for correction. Momentum indicators offer overbought signals as the pair approaches the recently recorded top at 169.10. Accordingly, our weekly outlook remains neutral to observe the pair around 169.10 and 166.85 to confirm the next move.

Support: 167.65, 166.85, 166.15, 165.75, 165.35
Resistance: 169.10, 170.00, 170.35, 171.00, 171.55

Recommendation Our weekly outlook is neutral to observe the pair around 169.10 and 166.85 to confirm the next move