The GBPJPY attempts to postpone the decline – Analysis – 20-10-2020

Economies.com
2020-10-20 05:33AM UTC

The GBPJPY pair formed strong positive wave yesterday to record 137.25 level, hinting the attempts to postpone the negative attack, while the current rebound towards 136.60 barrier and fluctuating above the moving average 55 might increase the chances of forming new bullish waves, to target 137.30 followed by reaching the key resistance at 138.40.

 

On the other hand, closing the next four hours’ candlestick below 136.60 will confirm regaining the bearish bias, to start forming strong negative waves and wait to reach 135.60 followed by 134.50 levels.

 

The expected trading range for today is between 136.30 and 137.60

 

The expected trend for today: Bullish temporarily 

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...