- 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
|Today last price||139.67|
|Today Daily Change||22 pips|
|Today Daily Change %||0.16%|
|Today daily open||139.45|
|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|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.