Technical Analysis – EURJPY cools near.html
Technical Analysis – EURJPY cools near 134.00 ...
EURUSD has been trading upwards in line with....
GBPUSD has been developing within a symmetrical triangle....
Technical Analysis – GBPJPY keeps bullish risks alive with bounce on 50-MA
GBPJPY is struggling to propel back towards the vicinity of the multi-year peak of 156.06, after a recent pullback in the price became trapped between the red Tenkan-sen line and the 50-period simple moving average (SMA). The bullish SMAs are defending price developments, which began from the 149.04 trough.
That said, the horizontal Ichimoku lines are indicating that the pair has slid into a phase where directional sentiment has evaporated. Still, the price seems to have a tendency to improve. The MACD, although beneath its red trigger line, is holding in bullish territory, while the positively charged stochastic oscillator is promoting additional price gains. The RSI continues to flirt with the 50 level, giving a muted signal in price direction.
To the upside, resistance could originate from the red Tenkan-sen line at 155.39 ahead of the 155.92 and 156.06 congested peaks. Conquering the latter, which is a near 40-month peak, next limitations to price improvements could emanate from the buffer zone shaped between the February 2018 highs of 156.33 and 156.60, respectively. Gaining further ground, the pair may then catapult towards the resistance barrier of 158.00-158.23, formed around the end of June 2016.