FenzoFx—GBP/JPY trades slightly above the 50-period SMA at 188.4, but the trend remains bearish below the 50.0% Fibonacci resistance level. The Stochastic Oscillator signals an overbought state, suggesting short-term pressure.
A downtrend may resume if GBP/JPY closes below 187.6, targeting 186.0. Conversely, a break above 190.2 resistance could extend momentum to 192.0.
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A downtrend may resume if GBP/JPY closes below 187.6, targeting 186.0. Conversely, a break above 190.2 resistance could extend momentum to 192.0.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.