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GBP/JPY registered another lower low at its March down-leg slightly below the key support level of 135.79, but it soon bounced up again as the RSI signaled oversold conditions. The latter is currently moving with a positive slope towards its 50 neutral level, while the MACD continues to trend up above its red signal line,
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GBP/JPY consolidates rebound; indicators trend up. GBP/JPY stabilised around a key barrier of 137.40 after bouncing on the five-month trough of 136.54. Although the RSI is currently sloping down, the indicator seems to be building an uptrend, confirming another higher high near its 30 oversold level earlier this week. The MACD is also trending up above
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GBP/JPY rebounds on 5-month lows; indicators signal bullish bias. GBP/JPY is trading not too far from the five-month low of 136.55, having pulled back slightly. The momentum indicators suggest there is still some upside for the pair to advance again, despite the downward movement on the red Tenkan-Sen line. The near-term bias is looking neutral-to-bullish as
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GBP/JPY is in red for the fourth consecutive week, with the price pausing the sell-off at the 4 ½-month low of 137.85 on Wednesday. According to the RSI and the Stochastics, the pair is trading in the oversold area and upside corrections are possible in the short term as the former hovers below 50 and the
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GBP/JPY continued with losses for the second week in a row, dropping to a four-month low of 139.53 last Friday and near a key support area before turning neutral. The RSI in the four-hour chart continues to lack direction while remaining in the bearish area and the red Tenkan-Sen keeps flattening below the blue Kijun-Sen line, reducing chances for a meaningful recovery in the short-term. However,
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GBP/JPY came under strong pressure after closing below the 143.75 key support level last week, with the price falling towards a three-month low of 141.19 on Monday. The sell-off, however, could be overstretched as both the RSI and the Stochastics are fluctuating near oversold levels, a signal justified by the current positive price movement. A rally above
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GBP/JPY had a strong bounce off on the upper boundary of the descending channel around 146.50 in the previous week, dropping towards a fresh almost two-month low of 142.86 today. The price also plunged beneath the Ichimoku cloud and the 23.6% Fibonacci retracement level of the up leg from 132.50 to 148.86
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GBP/JPY fails to jump above the descending triangle formation. GBP/JPY had a strong pullback on the downtrend line of the descending triangle around 145.85, which has been holding since March 14, sending prices slightly below the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. From the technical point of view, the price
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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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