Our pivot point is at 163.22.
Our preference: the upside prevails as long as 163.22 is support.
Alternative scenario: the downside breakout of 163.22 would call for 162.57 and 162.18.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 163.30 and 163.25). Finally, the GBP/JPY is trading above its upper Bollinger band (standing at 163.74).
Supports and resistances:
165.92 **
165.53 *
165.14 **
164.75
163.92 last
163.47
163.22 **
162.57 *
162.18 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 03-30-2023 at 11:34 UTC+1
Price reference: 163.92 last known on 03-30-2023 at 11:34 UTC+1
Investment horizon: INTRADAY