GBP/JPY Technical Analysis: 200-hour EMA, 38.2% Fibonacci limit immediate declines


  • GBP/JPY takes rest on the key support confluence after recent declines.
  • Buyers look for entry beyond 23.6% Fibonacci retracement, sellers can aim for 140 during further south-run.

GBP/JPY sellers catch a breath around 141.00 amid Tuesday’s Asian session. The pair dropped the previous day but is taking rest on the support area including 200-hour Exponential Moving Average (EMA), 38.2% Fibonacci retracement of the last week’s run-up while also comprising highs marked on November 21 and 26.

Although 12-bar Moving Average Convergence and Divergence (MACD) flashes bearish signals, the strength of the support indicates the pair’s recovery. In doing so, 23.6% Fibonacci retracement level of 141.26 can act as immediate resistance ahead of the previous-month high near 141.90 and 142.00 round-figure.

During the quote’s further north-run beyond 142.00, lows marked during March and April month around 143.72/78 could lure the bulls.

On the contrary, pair’s declines below 140.86 support could trigger a slump to 140.00 mar. However, intermediate halts around 50% and 61.8% Fibonacci retracements, at 140.60 and 140.30 respectively, can’t be ruled out.

GBP/JPY hourly chart

Trend: Pullback expected

additional important levels

Overview
Today last price 141.03
Today Daily Change -5 pips
Today Daily Change % -0.04%
Today daily open 141.08
 
Trends
Daily SMA20 140.39
Daily SMA50 138.04
Daily SMA100 134.76
Daily SMA200 138.37
 
Levels
Previous Daily High 141.83
Previous Daily Low 140.94
Previous Weekly High 141.86
Previous Weekly Low 139.53
Previous Monthly High 141.86
Previous Monthly Low 139.32
Daily Fibonacci 38.2% 141.28
Daily Fibonacci 61.8% 141.49
Daily Pivot Point S1 140.74
Daily Pivot Point S2 140.4
Daily Pivot Point S3 139.85
Daily Pivot Point R1 141.62
Daily Pivot Point R2 142.17
Daily Pivot Point R3 142.51

 

 

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