GBP/JPY intraday: as long as 159.39 is support look for 161.24

Our pivot point is at 159.39.

Our preference: as long as 159.39 is support look for 161.24.

Alternative scenario: below 159.39, expect 158.69 and 158.28.

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 below its 20 period moving average (159.99) but above its 50 period moving average (159.68).

Supports and resistances:

162.06 **

161.65 *

161.24 **

160.83

159.98 last

159.66

159.39 **

158.69 *

158.28 **

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 03-27-2023 at 07:19 UTC+1

Price reference: 159.98 last known on 03-27-2023 at 07:19 UTC+1

Investment horizon: INTRADAY