GBPJPY Is Bearish! Sell!

Here is our detailed technical review for GBPJPY.

Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 187.597.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 185.678 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

Dagangan ditutup: sasaran tercapai:

That was an excellent trade and the target was reached too!