- The GBP/JPY created a bullish hammer on the hourly chart a couple of hours ago, raising prospects of a corrective rally. However, the pair is showing no signs of life as of writing.
- The corrective rally is seen gathering traction after the relative strength index (RSI) has moved above 50.00 (in bullish territory).
Hourly chart
-636680057671621093.png)
Spot Rate: 145.72
Daily High: 146.08
Daily Low: 145.46
Trend: Bearish
R1: 146.07 (50-hour moving average)
R2: 146.32 (5-day moving average)
R3: 146.65 (50-day moving average)
Support
S1: 145.08 (76.4 percent Fibonacci retracement of 143.77-149.31).
S2: 144.39 (June 19 low).
S3: 144.00 (psychological level).
Share
