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Technical analysis

11.01.202407:11 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of GBP/JPY Cross Currency Pairs, Thursday January 11 2024.

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Exchange Rates 11.01.2024 analysis

From what we can see on the 4 hour chart, the GBP/JPY cross currency pairs seems dominated bt the buyers where this is confirmed by the price movement which is move above the WMA 20 as well as the appearance of Bullish Continuation patterns such as Failing Wedge and Bullish Flag, so that based on these facts, GBP/JPY has the potential to appereciated upward to the level of 186.44 as the main target and level 188.47 as the second target but before reach those target levels, GBP/JPY apparently has a little bit correction to gather the important upward momentum, as long as there is no go down to break the level 182.73, then the strengthening scenario in GBP/JPY still continue in the near future.

(Disclaimer)

Arief Makmur
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