The GBPJPY begins to rise – Forecast today – 7-5-2024
Economies.com
2024-05-07 05:33AM UTC
Expected Scenarios and Trading Range
Scenario 1: Correctional Decline Ended
- GBPJPY pair concludes recent correctional decline with multiple closings above the bullish channel’s support line at 191.30.
- Formation of bullish waves and confirmation of maintaining bullish bias with a reach of 194.12.
Scenario 2: Bullish Momentum
- Attempt to form additional support at the 193.00 level.
- Positive momentum provided by stochastic indicators suggests further bullish attempts.
- Potential targets include 194.35 and 194.95 levels.
Trading Range
Expected range for today: 193.00 - 194.95
Trend forecast: Bullish
Forex and Currency News
Forex
Yen extends losses as Banks of Japan holds off intervention
2024-05-17 04:36AM UTC
Yen fell in Asian trade on Friday against a basket of major rivals, extending losses for the second ...
Forex
Euro extends gains to two-month highs amid positive outlook
2024-05-16 08:33AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Yen gains ground as US treasury yields dip
2024-05-16 04:20AM UTC
Yen rose in Asian trade on Thursday against a basket of major rivals, extending gains for the ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 17-05-2024
2024-05-17 09:10AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price provides additional negative ...
Forex
The GBPCHF repeats the attempt to exit the negative track – Forecast today – 17-5-2024
2024-05-17 07:18AM UTC
GBPCHF Price Analysis Expected Scenario The GBPCHF price returned to form new bullish ...
Forex
The EURJPY hovers around the barrier – Forecast today – 17-5-2024
2024-05-17 07:10AM UTC
EURJPY Price Analysis Expected Scenario The EURJPY pair took advantage of stochastic ...