GBPJPY → Climbs above 185.50 as rising wedge looms
The 
GBPJPY reverses its course after posting decent losses of 0.20% on Tuesday and has risen past yesterday’s high of 185.46, as buyers target the current week’s high of 185.95. At the time of writing, the cross-pair is trading at 185.57 for a gain of 0.22%.
Even though the uptrend remains intact, price action seems overextended, though, in the short term, GBP/JPY buyers could challenge the 186.00 figure, ahead of testing the year-to-date (YTD) high of 186.77. Nevertheless, it should be said the Ichimoku Cloud (Kumo) is horizontal, indicating the uptrend might be losing steam.
In that scenario, if GBP/JPY dives below the November 6 low of 184.68, the next support would be the 184.00 mark. Once cleared, the Tenkan-Sen would be up next at 183.36, followed by the Kijun-Sen at 182.76.
GBPJPY reverses its course after posting decent losses of 0.20% on Tuesday and has risen past yesterday’s high of 185.46, as buyers target the current week’s high of 185.95. At the time of writing, the cross-pair is trading at 185.57 for a gain of 0.22%.Even though the uptrend remains intact, price action seems overextended, though, in the short term, GBP/JPY buyers could challenge the 186.00 figure, ahead of testing the year-to-date (YTD) high of 186.77. Nevertheless, it should be said the Ichimoku Cloud (Kumo) is horizontal, indicating the uptrend might be losing steam.
In that scenario, if GBP/JPY dives below the November 6 low of 184.68, the next support would be the 184.00 mark. Once cleared, the Tenkan-Sen would be up next at 183.36, followed by the Kijun-Sen at 182.76.
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Penafian
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🟢Free Signals:
t.me/forextradingfusion
🔴Contact:
t.me/tradingconmike1
t.me/forextradingfusion
🔴Contact:
t.me/tradingconmike1
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.