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GBP/JPY Technical Analysis: flag breakout in 15-minute chart

Omkar Godbole FXStreet Contributor

The bull flag breakout seen in the GBP/JPY's 15-minute chart indicates the 100-day moving average (MA), which proved a tough nut to crack last week, could be put to test again.

As of writing, the pair is trading at 143.50 and the long-term MA is seen at 144.62

15-min chart

As seen above, the flag breakout witnessed earlier today has accelerated the preceding bullish move. More importantly, the breakout has opened up upside towards 144.60 - target as per the measured move method, that is, pole height added to breakout price.

Interestingly, the 10-day MA is also lined up just above 144.60.

The bullish setup would be invalidated below the psychological support of 144.00.

Trend: bullish

GBP/JPY

Overview:
    Today Last Price: 143.49
    Today Daily change: 0.22 pips
    Today Daily change %: 0.15%
    Today Daily Open: 143.27
Trends:
    Daily SMA20: 141.3
    Daily SMA50: 141.72
    Daily SMA100: 144.31
    Daily SMA200: 145.08
Levels:
    Previous Daily High: 143.5
    Previous Daily Low: 142.08
    Previous Weekly High: 144.73
    Previous Weekly Low: 142.08
    Previous Monthly High: 144.85
    Previous Monthly Low: 131.79
    Daily Fibonacci 38.2%: 142.96
    Daily Fibonacci 61.8%: 142.62
    Daily Pivot Point S1: 142.4
    Daily Pivot Point S2: 141.53
    Daily Pivot Point S3: 140.98
    Daily Pivot Point R1: 143.82
    Daily Pivot Point R2: 144.37
    Daily Pivot Point R3: 145.24

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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