GBP/JPY intraday: as long as 165.56 is support look for 167.29

Our pivot point stands at 165.56.

Our preference: as long as 165.56 is support look for 167.29.

Alternative scenario: the downside breakout of 165.56 would call for 164.93 and 164.55.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 166.04 and 165.75).

Supports and resistances:

168.05 **

167.67 *

167.29 **

166.92

166.09 last

165.81

165.56 **

164.93 *

164.55 **

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 04-12-2023 at 03:11 UTC+1

Price reference: 166.09 last known on 04-12-2023 at 03:11 UTC+1

Investment horizon: INTRADAY