Divergence on GBP/JPY

Divergence on GBP/JPY

Since the beginning of this month, there has been a pronounced upward trend on the GBP/JPY currency pair. Nevertheless, technical correction is not excluded in the near future. A sufficiently strong reversal formation, the price and MACD histogram divergence, was formed in the trading instrument (H4 timeframe). At the moment, the price is testing a "mirror" support level of 151.500.

If the price fixes below 151.500, we recommend considering sales of GBP/JPY. The closest target for profit taking is the level of 150.250. In the medium term, the GBP/JPY currency pair can reach a round level of 148.00. When following a position, one should use a trailing stop.

by JustForex, 2017.09.22

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to learn forex trading in Kenya
Find out more about the advantages of trading in the forex market and the ways you can feel comfortable and confident as a novice trader. Start forex trading in Kenya and get to the desired top.
Read more