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GBP/JPY MACD Divergence At Monthly Support

Nenad Kerkez
Updated

The GBP/JPY has made a temporary bottom at 141.25 and we can see MACD divergence that could push the price to the upside.141.25-50 is the zone where price might spike towards the 142.60-85 where new sellers might be waiting. Only a clear 4h close or h1 momentum above 142.90 should target 143.40. Bearish continuation happens only below 140.90, but at this point, the GBP/JPY is supported by Monthly and Weekly supports and bullish MACD divergence.

GBP/JPY MACD Divergence At Monthly Support
GBP/JPY MACD Divergence At Monthly Support

Daily technical analysis is written by Nenad Kerkez, a senior analyst at Admiral Markets

This article was originally posted on FX Empire

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