The GBP/JPY 14-day RSI shows oversold conditions. A temporary bounce could be in the offing. Daily chart Spot rate: 143.90 Daily High: 144.29 Daily Low: 143.60 Trend: Bearish, but minor correction could be in the offing. Resistance 144.29 (resistance on hourly chart) 144.92 (50-hour MA) 145.27 (May 25 low) Support 143.60 (support on hourly chart) 143.21 (100-week MA) 143.19 (recent low) Currently, the 14-day RSI stands at 26.17 – the lowest level since August 23, when the RSI stood at 24.89. A reading below 30.00 indicates oversold conditions. So a minor pullback could be on the cards, however, the long-term outlook remains bearish as discussed. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD struggling to build back up after shedding 1.33 FX Street 5 years The GBP/JPY 14-day RSI shows oversold conditions. A temporary bounce could be in the offing. Daily chart Spot rate: 143.90 Daily High: 144.29 Daily Low: 143.60 Trend: Bearish, but minor correction could be in the offing. Resistance 144.29 (resistance on hourly chart) 144.92 (50-hour MA) 145.27 (May 25 low) Support 143.60 (support on hourly chart) 143.21 (100-week MA) 143.19 (recent low) Currently, the 14-day RSI stands at 26.17 - the lowest level since August 23, when the RSI stood at 24.89. A reading below 30.00 indicates oversold conditions. So a minor pullback could be on the cards, however, the long-term… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
