GBP/JPY Technical Analysis: 200-bar SMA guards immediate downside


  • GBP/JPY bounces off monthly low amid oversold RSI conditions.
  • A one-week-old falling trend line gains buyers’ attention during further recovery.

The GBP/JPY pair recovers from 200-bar SMA while trading around 139.65 during Monday morning in Asia.

The quote’s the recent pullback, amid oversold conditions of 14-bar Relative Strength Index (RSI), shifts bull’s attention to a downward sloping resistance line since November 18, at 140.67 now. However, a sustained clearance of 140.00 round-figure will be necessary for that.

In a case, prices move successfully beyond the near-term key resistance line, monthly to surrounding 141.60 will return to charts.

On the downside, pair’s declines below 200-bar Simple Moving Average (SMA) level of 139.46 can take rest on 23.6% Fibonacci Retracement of October-November upside, at 138.95.

Should there be bearish formation around 138.95, sellers can target October 11 high near 137.90 during further declines.

GBP/JPY 4-hour chart

Trend: Further recovery likely

additional important levels

Overview
Today last price 139.67
Today Daily Change 22 pips
Today Daily Change % 0.16%
Today daily open 139.45
 
Trends
Daily SMA20 140.09
Daily SMA50 137.28
Daily SMA100 134.43
Daily SMA200 138.47
 
Levels
Previous Daily High 140.52
Previous Daily Low 139.32
Previous Weekly High 141.58
Previous Weekly Low 139.32
Previous Monthly High 141.51
Previous Monthly Low 130.42
Daily Fibonacci 38.2% 139.78
Daily Fibonacci 61.8% 140.06
Daily Pivot Point S1 139.01
Daily Pivot Point S2 138.56
Daily Pivot Point S3 137.81
Daily Pivot Point R1 140.21
Daily Pivot Point R2 140.96
Daily Pivot Point R3 141.41

 

 

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