GBP/JPY Technical Analysis: Choppy between 21-day EMA, monthly trendline

  • 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

Trend: Sideways

additional important levels

Today last price 139.78
Today Daily Change -2 pips
Today Daily Change % -0.01%
Today daily open 139.8
Daily SMA20 140.06
Daily SMA50 136.25
Daily SMA100 134.16
Daily SMA200 138.54
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.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD consolidates losses below 1.3150 amid a tighter election poll

GBP/USD is trading below 1.3150, consolidating its losses after YouGov's MRP poll showed a tighter Conservative majority ahead of the UK elections on Thursday. Trade headlines and the Fed decision are also awaited.


EUR/USD remains pressured below 1.11 amid trade uncertainty, ahead of the Fed

EUR/USD is trading below 1.11, consolidating its gains. Uncertainty about the planned US tariffs on China looms and tension is mounting ahead of US inflation and the all-important Fed decision.


Forex Today: Boris gets a blow from big poll, tariff threat looms, focus on the Fed

President Donald Trump has yet to decide on the December 15 tariffs, according to the Wall Street Journal. On the other hand, the paper says that negotiators are laying the groundwork for a deal.

Read more

Gold stalls two-day winning streak on the Fed day, trade jitters continue

Gold prices register a mild loss of -0.05% while hovering below $ 1465 on Wednesday. The yellow metal seems to have lacked buying interest ahead of the key monetary policy meeting by the US Federal Reserve (Fed).

Gold News

USD/JPY: 200-hour EMA questions immediate rising trend-channel

USD/JPY recently took a U-turn from 200-hour Exponential Moving Average (EMA). Even so, it stays well within the two-day-old rising trend-channel formation. The pair trades around 108.75 at the press time on Wednesday.