GBPJPY: Bearish Channel with Support at 156.00 – 13 March 2023
13 Mar 2023
GBPJPY Technical Analysis: Weekly Chart
In the weekly charts, GBPJPY was trading in an up channel. GBPJPY is currently trading below the middle line of Bollinger bands.
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness. The volume of buying is more.
Its immediate support is 156.00 the resistance level is at 170.00
GBPJPY will trade in a down channel until there is a trend reversal.
GBPJPY Technical Analysis: Daily Chart
In the daily charts, GBPJPY is trading in an up channel. GBPJPY is currently trading below the middle line of Bollinger Bands.
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness, The volume of buying is more.
Its immediate support is 159.00 the resistance level is at 167.00
GBPJPY will trade in a down channel until there is a trend reversal.
How to Trade GBPJPY this Week:
GBPJPY will follow the downtrend until its trend reversal. So, remain bearish on GBPJPY.