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GBP/JPY retraces below 5-month high but developing uptrend still intact. GBP/JPY confirmed that the rebound off the 3-year low of 126.53 is more than temporary after rallying above the 135.50 resistance area. Backing this is the intact bullish cross and the recent turn up in the slopes of the 20- and 50-day
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GBP/JPY pauses post-rally; sellers halt further advances. GBP/JPY has taken a breather after sellers denied further gains. They reversed the price back below 140.34, which is the 61.8% Fibonacci retracement of the down leg from 148.86 to 126.53, following the rally that commenced 10 October. The momentum indicators concur with the stall in
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GBP/JPY slows selling near key support; bias still bearish. GBP/JPY bears turned busy around the key barrier of 130.68 this week, a break of which could put the rebound off 3-year lows in question. A resumption of the negative momentum is possible according to the MACD which continues to strengthen under its red
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GBP/JPY still negative, but losses limited near 200-period SMA. GBP/JPY seems to have hit a wall at the 200-period simple moving average (SMA) on the four-hour chart and the 131.60 durable support from July 30. The price decline from the high of 135.73 halted on October 2, with the pair shifting sideways
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GBP/JPY bias tilted to the downside; bears likely waiting below 130.68. GBP/JPY has been drifting below two-month highs after failing to close above the 135.50 resistance area. The pair could follow a neutral-to-bearish direction in the short-term as the RSI is sloping downwards to meet its 50 neutral level and the MACD is extending negative momentum below its red signal line. Yet,
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GBP/JPY topped September’s rally at a familiar place of 135.64 on Wednesday and reversed lower to retest the 20-period simple moving average (SMA) in the four-hour chart. Given that the RSI is hovering slightly above its 50 neutral level and the red Tenkan-sen line has flattened above the blue Kijun sen, the risk in the short-term
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GBP/JPY has successfully overcome the upward resistance line drawn from May’s peak of 146.49 and rallied above the 50-day simple moving average (SMA) to test the 133.00 level and the upper surface of the Ichimoku cloud after four months. The positive momentum in the MACD and the RSI reflects a strong bullish
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GBP/JPY corrects Tuesday’s damages but still exposed to downside risks. GBP/JPY recouped Tuesday’s downfall that led the price near the almost three-year low of 126.53 and the Doji candle registered early in August. The positive movement, however, remains fragile and the market is still exposed to downside risks as the RSI continues to
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GBP/JPY puts an upward pattern in standby mode. GBP/JPY sat on the sidelines after confirming the start of an uptrend by creating a higher low at 127.45 and a higher high at 130.68 in the four-hour chart. The pair is likely to stay uneventful in the short-term as the RSI and the Ichimoku indicators are
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GBP/JPY breaches upwards the 100-SMA, eyes 200-SMA. GBP/JPY turned higher at a thirty-three-month low of 126.53 on August 12, of a three-month descending channel plotting higher highs and lows. Currently, at the 130.00 level, the bears are trying for a push lower as reflected by the momentum indicators. The RSI has deflected off
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