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On the 4-hour chart of the GBP/JPY cross currency pair, there are several interesting things can be seen. First, the price movement is moving above the WMA (21) which has a slope that is going upwards. Second, the Stochastic Oscillator shows Convergence with the GBP/JPY price movement which also has a BUY Crossing condition so that in the near future, GBP/JPY, as long as there is no correction that causes it to weaken and close below the 192.70 level, will strengthen and rise, where the 197.25 level will be the main target to be aimed at and if the volatility and momentum of the strengthening support it, then 198.50 will be the next target to be aimed at.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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