Here is our detailed technical review for GBPJPY.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 218.556.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 217.958 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Trade chiuso: obiettivo raggiunto
That was an excellent trade and the target was reached too!
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🔝Best Broker: icmarkets.com/trading-markets/forex/?camp=51166
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.