GBP/JPY Update – Potential Long Opportunity
The pair has found support around the 38.2% Fibonacci retracement level near 197.264, creating a potential opportunity for a reversal to the upside.
Momentum is building for a push towards the 197.506 - 197.656 area, which corresponds to the 23.6% Fib and a key resistance zone.
Watch for a breakout above 197.656 for a continuation of the bullish trend towards 198.012.
🔑 Key Levels:
Support: 197.264 (38.2% Fib)
Resistance: 197.506, 197.656, 198.012
This is a setup to keep an eye on as momentum shifts from the recent bearish leg. 📈
Momentum is building for a push towards the 197.506 - 197.656 area, which corresponds to the 23.6% Fib and a key resistance zone.
Watch for a breakout above 197.656 for a continuation of the bullish trend towards 198.012.
🔑 Key Levels:
Support: 197.264 (38.2% Fib)
Resistance: 197.506, 197.656, 198.012
This is a setup to keep an eye on as momentum shifts from the recent bearish leg. 📈
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.