- GBP/JPY has been range-bound since mid-October.
- A gradually declining RSI reflects the price weakness from 141.50.
- 23.6% Fibonacci retracement, 200-day EMA could come back on the chart on the downside break.
While carrying forward its near-term trading range between 21-day EMA and a four-week-old falling trend line, the GBP/JPY pair trades around 139.77 amid the initial Thursday.
However, gradually declining levels of 14-day Relative Strength Index (RSI), coupled with the recent weakness in prices, signal pair’s declines to 138.00/137.80 confluence including 23.6% Fibonacci retracement of August-September upside and 200-day Exponential Moving Average (EMA) should the quote drop below 21-day EMA level of 139.22.
If at all bears keep dominating past-137.80, 38.2% Fibonacci retracement and September month high could please sellers around 135.75.
Meanwhile, pair’s break of monthly trend line resistance, at 140.50 now, can trigger fresh run-up to October month high near 141.50.
During the pair’s further rise past-141.50, late-May top close to 141.75 will be on the bulls’ radars.
GBP/JPY daily chart
additional important levels
|Today last price||139.78|
|Today Daily Change||-2 pips|
|Today Daily Change %||-0.01%|
|Today daily open||139.8|
|Previous Daily High||140.27|
|Previous Daily Low||139.44|
|Previous Weekly High||140.76|
|Previous Weekly Low||139.41|
|Previous Monthly High||141.51|
|Previous Monthly Low||130.42|
|Daily Fibonacci 38.2%||139.76|
|Daily Fibonacci 61.8%||139.95|
|Daily Pivot Point S1||139.4|
|Daily Pivot Point S2||139.01|
|Daily Pivot Point S3||138.57|
|Daily Pivot Point R1||140.23|
|Daily Pivot Point R2||140.67|
|Daily Pivot Point R3||141.06|
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.