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GBP/JPY is trading sideways over the last month, struggling within the 50.0% Fibonacci retracement level of the down-leg from 147.95 to 140.80 near 144.40 and the 141.10 support level. However, looking at the very short-term timeframe the pair rebounded on the 140.80 level on January 6 and surpassed the moving averages,
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GBP/JPY appears to have stalled below the flat lines of the Bollinger bands, but buyers are attempting to overtake the mid-band at 143.08, after the bounce off the lower-band. The fresh positive push seems to also be aided by the bullish crossover of the 200-day simple moving average (SMA) by the
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GBP/JPY sellers take control of the medium-term picture. GBP/JPY is attempting to push below the 50-day simple moving average (SMA) and swing low residing at the 141.40 and 141.15 levels respectively. The negative move seems to be aided by the momentum indicators and the slight downturn in the 20-day SMA. The short-term oscillators
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GBP/JPY’s aggressive positive appetite looks to extend towards levels not seen in seven-months and possibly more than a year. Improving positive momentum is boosting the recent violent up move in addition to the upward slopes in the 20-, 50- and 100-day simple moving averages (SMAs), along with the bullish crossover of
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GBP/JPY bulls likely to keep control; descending trendline in focus. GBP/JPY is surrounded by positive vibes on the daily chart, increasing optimism that there is more room for improvement in the market. The bulls geared up to seven-month highs and further above the upward-sloping 20-day simple moving average (SMA) after the price
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GBP/JPY continues to bounce between the 140.70 and 139.40 boundaries, constructing a rectangle which looks to be a bullish formation as the pattern follows an uptrend started from the 3-year low of 126.53. The double bullish cross of the 20-day simple moving average (SMA) with the longer 50- and 200-day SMAs is another
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GBP/JPY sustains a neutral stance lasting nearly a month. GBP/JPY is currently below the 50-, 100- and 20-period simple moving averages (SMAs), having been bound within a trading range of 141.47 to 138.85 for almost a month. It is evident that directional momentum has evaporated, something also supported by the above mentioned
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GBP/JPY in the consolidation phase near a five-month high. GBP/JPY is stuck between the 200-day simple moving average (SMA) and the 140.70 resistance, which is also the 61.8% Fibonacci of the down-leg from 149.47 to 126.53. Downside pressures seem to be strengthening as the RSI is heading down to meet its 50 neutral level and the
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GBP/JPY positive picture loses steam; transitions into a sideways market. GBP/JPY’s directional momentum has disappeared after sellers ceased further gains on October 17, having rallied strongly from October 8. A second attempt higher was denied, shifting the pair into a directionless market, which is also backed by the flat 50-period simple moving
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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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