By Anton Eljwizat
The volatile of the GBP/JPY pair continues to be affected by the volatile forex market. The last two weeks has seen a lot of bullish strength in the GBP/JPY pair. However, it seems that the pair’s bullish run may have run out of steam, and a bearish correction could be underway soon, as a bearish cross has taken place on the Slow Stochastic. In addition, the Relative Strength Index indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure. This might be a good opportunity for forex traders to enter the trend at a very early stage and at a great entry price.
The next support level is located at the 130.30 level.
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