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. 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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News