GBP/JPY Fails to Clear Monthly High
GBP/USD trades back below the 50-Day SMA (183.15) after failing to clear the monthly high (183.82), and the exchange rate may struggle to retain the advance from the monthly low (178.10) as a head-and-shoulders formation appears to be taking shape.
GBP/JPY Outlook
GBP/JPY seems to be trading within a defined range as it struggles to push above 183.90 (50% Fibonacci retracement), and the range bound price action may persist amid the flattening slope in the moving average.
However, a move below the 17940 (23.6% Fibonacci retracement) to 179.70 (61.8% Fibonacci extension) region may lead to a test of the monthly low (178.10), with the next area of interest coming in around 177.20 (23.6% Fibonacci retracement).
GBP/JPY Outlook
GBP/JPY seems to be trading within a defined range as it struggles to push above 183.90 (50% Fibonacci retracement), and the range bound price action may persist amid the flattening slope in the moving average.
However, a move below the 17940 (23.6% Fibonacci retracement) to 179.70 (61.8% Fibonacci extension) region may lead to a test of the monthly low (178.10), with the next area of interest coming in around 177.20 (23.6% Fibonacci retracement).
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.
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.