164.61 is our pivot point.
Our preference: the downside prevails as long as 164.61 is resistance.
Alternative scenario: the upside breakout of 164.61, would call for 165.40 and 165.86.
Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 164.09 and 164.43). Finally, the GBP/JPY has penetrated its lower Bollinger band (163.74).
Supports and resistances:
165.86 **
165.40 *
164.61 **
164.30
163.71 last
162.69
162.22 **
161.76 *
161.29 **
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 03-01-2023 at 11:39 UTC+1
Price reference: 163.71 last known on 03-01-2023 at 11:39 UTC+1
Investment horizon: INTRADAY