GBP/JPY trading inside a strong pivot area

GBP/JPY trading inside a strong pivot area

GBP/JPY is currently facing a dynamic support around the 200 SMA at H1 chart and trades inside a demand zone established by our Fibonacci projections. The 65% level still holds and it can serve as pivot to send the pair to higher levels across the board, with a first target placed at October 25th highs, around 151.36, ahead of the -23.6% level at 152.18.

RSI indicator remains in the negative territory.

GBPJPYmH1.png

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