GBPJPY Will Go Higher! Buy!

Here is our detailed technical review for GBPJPY.

Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a significant support area 193.677.

The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 194.756 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 closed: target reached

That was an excellent trade and the target was reached too!

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