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GBP/JPY on a sideways move; 23.6% Fibonacci appears to be strong support. GBP/JPY has been on a sideways move for the most part of the week as the 23.6% Fibonacci retracement level of the up leg from 132.48 to 148.85, around 145.00 and the 200-day simple moving average seem to be
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GBP/JPY looks neutral in short-term; uptrend at risk. GBP/JPY has been on the sidelines this week and the current movement in the RSI and the MACD recommends that the short-term trading may continue to be uneventful as the former is still moving close to its 50 neutral level and the latter
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GBP/JPY jumps higher but remains within a narrow range in the near term. GBP/JPY is looking bullish in the short-term narrow range, which has been holding since February 19, with upper boundary the 148.60 resistance and lower boundary the 143.70 support level. During yesterday’s trading session, the price successfully surpassed the
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GBP/JPY turns below 145.00 level; struggles in a narrow range. GBP/JPY is hovering below the crucial 23.6% Fibonacci retracement level of the up leg from 132.50 to 148.85, around 145.00 and the bearish crossover within the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The technical indicators seem to
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GBP/JPY loses ground; neutral in the near term. GBP/JPY had another bearish start on Friday, with the price breaking the crucial 23.6% Fibonacci retracement level of the up leg from 132.48 to 148.85, around 145.00. The technical indicators in the 4-hour chart are endorsing this view, with the RSI reversing back
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GBP/JPY struggles to clear the 148 level; signals neutral in the short term. GBP/JPY slid sideways after it found strong resistance just shy of the 149 level for the second time this month. In the short term, the consolidation phase may continue as the RSI has yet to show clear direction,
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GBP/JPY consolidates after a strong start to the week. GBP/JPY paused Tuesday’s sell-off near the 20-day moving average (MA) on Wednesday and bounced back into the 146 area. The cautious sentiment, though, has not fully faded as the RSI has yet to show clear positive direction above 50, while the MACD
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GBP/JPY slips around 145.00; still looks bullish in the medium-term. GBP/JPY is edging lower towards a one-and-a-half-week low of 145.11, exiting from the Ichimoku cloud in the 4-hour chart, after it unlocked a fresh three-and-a-half-month high on March 1. The bearish momentum in the MACD points to further decline in the
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GBP/JPY pierces above 200-day MA; bullish but overbought. GBP/JPY unlocked a fresh three-month high of 145.93 early on Tuesday after a rally above its 200-day moving average on Monday. The bullish momentum in the MACD points to further improvement in the short-term. Yet with the RSI approaching its 70 overbought level and
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GBP/JPY consolidates after reaching an 11-month high of 145.00. GBP/JPY failed to post more gains above the fresh 11-month high of 145.00 that it posted earlier this week and is moving sideways within a narrow range of 144.05 – 145.00 in the 4-hour chart. Currently, the price is developing around the red Tenkan-Sen line suggesting
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