GBPJPY may rise to 170.17 - 173.55
Our preference
As long as 158.04 is support look for 173.55.
Alternative scenario
Below 158.04, expect 152.40 and 149.04.
Comment
The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (163.76) but above its 50 period moving average (159.42).
Our preference
As long as 158.04 is support look for 173.55.
Alternative scenario
Below 158.04, expect 152.40 and 149.04.
Comment
The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (163.76) but above its 50 period moving average (159.42).