GBPJPY likely to rebound

26 April 2021

GBPJPY currently sits at the support of the upward sloping trend line suggesting limited downside potential, it ended in a small doji candlestick formation on Friday supporting the above observation. RSI has risen slightly supporting the above observation and indicating further upside potential. It is likely that GBPJPY could rise towards 150.25 and 150.90 while it sustains above 148.85.

Prepared by
Technical Analysis Team

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