GBP/JPY Price Analysis: Bulls cheer break of 100-day EMA beyond 135.00


  • GBP/JPY remains positive near three-week top.
  • Bullish MACD backs upside break of 100-day EMA to suggest further rise.
  • 50% of Fibonacci retracement acts as additional support.

GBP/JPY eases from the intraday top of 135.41 to 135.31 during Thursday’s Asian session. However, the pair still flashes 0.04% gains while staying near the highest since June 16. The quote refreshed the multi-day top on Wednesday after successfully crossing 100-day EMA.

Other than the clearance of the key EMA, bullish MACD also favors the buyers to aim for a 200-day EMA level of 136.13 during further advances.

However, 61.8% Fibonacci retracement of the pair’s February-March fall, around 137.00, will restrict the extra north-run.

Should buyers fail to keep the upside momentum and the quote slips below a 100-day EMA level of 134.82, 50% of Fibonacci retracement near 134.50 could return to the chart.

Additionally, June 23 high close to 134.00 and an upward sloping trend line from May 18, at 132.60 now, will add to the downside support in a case where the sellers dominate.

GBP/JPY daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 135.31
Today Daily Change 0.05
Today Daily Change % 0.04%
Today daily open 135.26
 
Trends
Daily SMA20 133.82
Daily SMA50 133.51
Daily SMA100 134.09
Daily SMA200 137.63
 
Levels
Previous Daily High 135.43
Previous Daily Low 134.58
Previous Weekly High 134.71
Previous Weekly Low 131.96
Previous Monthly High 139.74
Previous Monthly Low 131.77
Daily Fibonacci 38.2% 135.1
Daily Fibonacci 61.8% 134.9
Daily Pivot Point S1 134.75
Daily Pivot Point S2 134.24
Daily Pivot Point S3 133.9
Daily Pivot Point R1 135.59
Daily Pivot Point R2 135.93
Daily Pivot Point R3 136.44

 

 

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