GBP/JPY fades the late Tuesday’s corrective bounce off the 100-bar Simple Moving Average (SMA) as it prints mild losses near the 160.00 psychological magnet during early Wednesday. In doing so, the cross-currency pair keeps the previous week’s retreat from a one-month high.
Not only the failure to defend the bounce off 100-SMA but bearish MACD signals and downbeat RSI (14), not oversold, also keeps GBP/JPY bears hopeful.
However, a clear downside break of the stated SMA level surrounding 159.70 becomes necessary for the GBP/JPY bears.
Following that, the January 19 swing low near 157.60 could act as a buffer during the fall targeting the previous monthly low of 155.36. It should be noted that May 2022 low near 155.60 also challenges the short-term GBP/JPY bears.
Meanwhile, recovery moves may aim for the latest peak surrounding 161.45 before approaching a downward-sloping resistance line from late December 2022, close to 161.65 at the latest.
In a case where the quote rises past 161.65, the 50% Fibonacci retracement of GBP/JPY downbeat between late 2022 and early January 2023, around 162.30, could act as the last defense of the bears.
To sum up, GBP/JPY is likely to remain bearish even if the 100-SMA challenges the immediate downside.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.