Technical analysis of GBP/JPY for May 22, 2018

Source: Forex Analysis

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Chart Explanation:

The black line shows the pivot point. Currently, the price is above the pivot point which is a signal for long positions. If it remains below the pivot point, it will indicate short positions. The red lines show the support levels, while the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Resistance levels: 149.70,150.15, and 150.75

Support levels: 148.40, 148.20, and 147.60

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