- GBP/JPY clings to half-yearly resistance line while trading around the highest since May 13.
- Buyers seem to catch a breath after a heavy rush to the north, an upside break could recall March-April lows.
- 21-day EMA, 61.8% Fibonacci retracement act as immediate supports.
Having surged to the highest in nearly seven months, GBP/JPY seesaws around 142.70 during Asian session on Thursday.
The pair clings to a multi-month-old resistance line and requires a sustained break of 142.73/75 to take aim at lows marked in March and April months around 143.72/80.
However, a downside break below November month high close to141.85 can drag the pair back to 21-day Exponential Moving Average (EMA) level of 140.75 and 61.8% Fibonacci retracement of March-August downpour surrounding 140.35.
Given the sellers’ dominance past-140.35, 140.00 round-figure could offer an intermediate halt to the previous month low near 139.30.
GBP/JPY daily chart
Trend: Pullback expected
additional important levels
|Today last price||142.69|
|Today Daily Change||3 pips|
|Today Daily Change %||0.02|
|Today daily open||142.66|
|Previous Daily High||142.8|
|Previous Daily Low||140.83|
|Previous Weekly High||141.86|
|Previous Weekly Low||139.53|
|Previous Monthly High||141.86|
|Previous Monthly Low||139.32|
|Daily Fibonacci 38.2%||142.05|
|Daily Fibonacci 61.8%||141.58|
|Daily Pivot Point S1||141.4|
|Daily Pivot Point S2||140.13|
|Daily Pivot Point S3||139.43|
|Daily Pivot Point R1||143.37|
|Daily Pivot Point R2||144.07|
|Daily Pivot Point R3||145.34|
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