FXCentrum Review: Scam or Legitimate? In-depth Broker Analysis
Unbiased FXCentrum review: Explore its regulation, user complaints, and trading conditions. Is FXCentrum a reliable Forex broker? Find out here.
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Abstract:GBP/JPY prints the highest daily gains in a fortnight as buyers flirt with 157.80 during Friday’s Asian session.

GBP/JPY picks up bids to refresh intraday high, snaps two-day downtrend.
Bearish MACD signals, downbeat RSI keep sellers hopeful to retest 200-DMA.
One-month-old falling trend line adds to the downside filters.
The cross-currency pairs latest rebound from the lowest levels since March, marked the previous day, lacks support from the RSI, as well as the MACD.
As a result, the 100-DMA level, surrounding 158.00, probes the GBP/JPY buyers, making it difficult to reverse the monthly bearish trend.
Even if the quote rises past 158.00, a downward sloping trend line from April 20, near 160.80 by the press time, appears a tough nut to crack for the bulls, which in turn will trigger the run-up targeting the 164.00 level.
Meanwhile, pullback moves may retest the 157.00 threshold but will be challenged by the 200-DMA, around 155.20 at the latest.
Following that, the yearly lows surrounding 151.00 and the 150.00 psychological magnet will lure the GBP/JPY bears.
GBP/JPY: Daily chart

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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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