Main trend for GBPJPY market
Saw a drop of more than 0.20%, with the Japanese Yen gaining strength against major currencies.
Despite the pair's overall uptrend, recent price action has formed a 'double top' pattern, suggesting further confirmation is needed, with the price breaking below 184.46.
Conversely, a move above the November 28 daily high of 187.87 could set the stage for the pair to test the year-to-date high at 188.80.
The H1 chart shows that bulls are still dominating the market, continuously creating downward declines, challenging the nearest support zone of 186,280.
The Japanese yen appreciated against major currencies and fell by more than 0.20%.
Despite the pair's overall uptrend, recent price action has formed a "double top" pattern, suggesting that
the price needs further confirmation below 184.46.
Conversely, a rise above the intraday high of 187.87 on November 28th could be a stepping stone to test the year-to-date high of 188.80.
The first half chart shows that the bulls are still in control of the market, causing continued declines and challenging the next support zone at 186,280.
Despite the pair's overall uptrend, recent price action has formed a 'double top' pattern, suggesting further confirmation is needed, with the price breaking below 184.46.
Conversely, a move above the November 28 daily high of 187.87 could set the stage for the pair to test the year-to-date high at 188.80.
The H1 chart shows that bulls are still dominating the market, continuously creating downward declines, challenging the nearest support zone of 186,280.
The Japanese yen appreciated against major currencies and fell by more than 0.20%.
Despite the pair's overall uptrend, recent price action has formed a "double top" pattern, suggesting that
the price needs further confirmation below 184.46.
Conversely, a rise above the intraday high of 187.87 on November 28th could be a stepping stone to test the year-to-date high of 188.80.
The first half chart shows that the bulls are still in control of the market, causing continued declines and challenging the next support zone at 186,280.
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