GBPJPY Will Go Up! Long!

31 de mai. de 2023

Please, check our technical outlook for GBPJPY.

Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is testing a major horizontal structure 172.713.

Taking into consideration the structure & trend analysis, I believe that the market will reach 175.102 level soon.

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.

Like and subscribe and comment my ideas if you enjoy them!