Technical analysis of GBP/JPY for May 17, 2018

analytics5afcfd7ed8f3a.jpg

The GBP/JPY at 4-Hour Charts seem already making higher highs and higher lows after the MACD Divergence with the price but this pair now getting struggles with the Support Become Resistance level at 149.11 events now this pair already breakout above those level now the GBP/JPY must test the 149.11 level first as their new Support before they can go up, this condition already confirmed by the William %R(14) already at Overbought side. So this pair in a short time manner will be going down to test the 149.11 level.

(Disclaimer)

The material has been provided by InstaForex Company – www.instaforex.com