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tradingconmike

Rebounds from weekly lows, eyes 186.30s

Long
British Pound / Japanese Yen (FX:GBPJPY)  
tradingconmike  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns GBPJPY gbpjpylong gbpjpyanalysis gbpjpysignal gbpjpytrade
3
0
trendanalysis chartpattern gbpjpy gbpjpylong gbpjpyanalysis gbpjpysignal gbpjpytrade
GBPJPY snaps four days of losses, climbs 0.31% in the late Tuesday North American session, and exchanges hands at around 186.00 after bouncing from daily/weekly lows reached at 184.45.

The GBP/JPY daily chart portrays the pair as neutral biased, as the slope of the Tenkan and Kijun-Sen shifted flat, which could open the door for range-bound trading. On the upside, the pair’s first resistance would be the Tenkan-Sen at 186.37, followed by the 187.00 figure, ahead of the year-to-date (YTD) high at 188.24.

On the other hand, if GBP/JPY drops below the Kijun-Sen at 184.52, that would pave the way to test the Senkou Span B at 183.15, followed by the bottom of the Ichimoku Cloud (Kumo) at 181.75.
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