GBP/JPY intraday: target 147.11

GBPJPY

Trading Central 2021-02-20 04:52:28

148.01 is our pivot point.

Our preference: target 147.11.

Alternative scenario: the upside breakout of 148.01, would call for 148.33 and 148.51.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (147.81) but above its 50 period moving average (147.66).

Supports and resistances:

148.51 **

148.33 *

148.01 **

147.89

147.71 last

147.30

147.11 **

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