ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPJPY Heads To Return Its Earnings
The pair struggled to hold on by encountering profit realizations at the 1.5-month high, which it tested at the beginning of the week, and ended the minor ascending trend line. However, the pair fell below the 50-period weighted moving average (WMA), gaining short-term selling potential. As a matter of fact, the RSI oscillator, known as the relative strength index, also produces a turn signal. Below, 160.50 is at the key support position. Moving behind this, the correction can last until 159.20, which is marked by the Fibonacci 61.8 retracement line, behind 159.85. Above, the 161.70 – 162.35 line will continue to be a strong resistance zone.
