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GBPJPY Is Going to Be an Intriguing Forex Pair to Trade in the Next Hours

By Zach WrightNovember 4, 2019Updated:November 4, 2019No Comments1 Min Read

According to previous expectations, during the last trading week, we saw almost a sideways movement of the price. The market is gradually approaching the lower bound of the yellow channel. It is likely that during the next trading week we will see a slow decline in the price to the support level of 137.19.

[button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#df4444″]SELL GBPJPY[/button] [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#3cc195″]BUY GBPJPY[/button]

The probability of this option will increase when the price is fixed below the moving average. An alternative option is the growth of the market to the upper bound of the yellow channel and the resistance level of 145.67, it is schematically shown on the chart with a thin white line.

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