The current major uptrend phase of GBP/JPY has almost reached a key inflection/resistance level of 187.30. The weekly RSI momentum indicator has flashed out bearish conditions that advocate a potential multi-week bearish mean reversion/counter-trend movement. 50 is the key short-term resistance to watch with intermediate supports coming in at 180.60 and 179.20. Bulls may have […]
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USDJPY, Daily In the Daily timeframe, USDJPY has formed a rising wedge pattern. The price bounced off the lower trend line and MA50. The Stochastic is out of oversold range and indicates a possible upside. Read more…