GBPJPY : SKYROCKETTING
- The market is trading inside a bullish channel started mid-june ; the short-term trend is then bullish.
- Over the last few days, we could notice a lack of strength as the market registered the last three tops.
This trend slowdown has been highlighted by a bearish divergence with the RSI indicator.
Both moving averages remain however bullish.
- Despite apparent mixed signals, the technical landscape is easy to read here.
The very short-term bullish trend is indeed slowing down, but the lack of a bearish break-out by the RSI and the fact moving averages don't display any threatening sign yet tend to support the bullish continuation scenario.
A limited pull-back towards 205.85 and 205.02 may take place, but the overall market sentiment remains strong so far and the upside targets around 206.65, 207.20, 207.81 and 208.55 stay valid.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
- Over the last few days, we could notice a lack of strength as the market registered the last three tops.
This trend slowdown has been highlighted by a bearish divergence with the RSI indicator.
Both moving averages remain however bullish.
- Despite apparent mixed signals, the technical landscape is easy to read here.
The very short-term bullish trend is indeed slowing down, but the lack of a bearish break-out by the RSI and the fact moving averages don't display any threatening sign yet tend to support the bullish continuation scenario.
A limited pull-back towards 205.85 and 205.02 may take place, but the overall market sentiment remains strong so far and the upside targets around 206.65, 207.20, 207.81 and 208.55 stay valid.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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