Analyzing GBP/JPY Daily Outlook: Projections and Support Levels

Wednesday, 10 July 2024, 06:41
The GBP/JPY intraday bias is currently neutral. Expecting a further rise with minor support at 204.97 intact. A sustained break of the projected range could lead to higher targets. Conversely, breaching the minor support level may indicate a shift in bias towards a deeper pullback.
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Analyzing GBP/JPY Daily Outlook: Projections and Support Levels

GBP/JPY Daily Outlook Analysis

The intraday bias in GBP/JPY is currently neutral.

Key Points:

  • Projection Targets: Further rise expected with minor support at 204.97.
  • Projected Breakout: Sustained break of 100% projection from 191.34 to 200.72 may target 138.2% projection at 210.17.
  • Support Levels: Below 204.97 minor support could shift bias to the downside.

Conclusion: GBP/JPY daily analysis indicates potential for both upward and downward movements, depending on key support and resistance levels.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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