GBP/JPY Technical Analysis: The indicator has turned bullish for the first time since November

  • GBP/JPY's moving average convergence divergence (MACD) has turned bullish (moved above zero) for the first time since Nov. 14.
  • The pair, however, is yet to violate the bearish lower-high and lower-low represented by the trendline connecting the Nov. 8 and Dec. 14 highs. A break above that validate the bullish MACD and open up upside toward 143.86 (Dec. 14 high).
  • Supporting the bullish case is the positive crossover between the 5- and 10-day moving averages and the RSI's breach of the descending trendline.

Daily Chart

Trend: bullish

GBP/JPY

Overview:
    Today Last Price: 139.38
    Today Daily change: -6.0 pips
    Today Daily change %: -0.0430%
    Today Daily Open: 139.44
Trends:
    Previous Daily SMA20: 139.68
    Previous Daily SMA50: 142.99
    Previous Daily SMA100: 144.64
    Previous Daily SMA200: 145.81
Levels:
    Previous Daily High: 139.49
    Previous Daily Low: 137.63
    Previous Weekly High: 139.49
    Previous Weekly Low: 137.44
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Previous Daily Fibonacci 38.2%: 138.78
    Previous Daily Fibonacci 61.8%: 138.34
    Previous Daily Pivot Point S1: 138.22
    Previous Daily Pivot Point S2: 137
    Previous Daily Pivot Point S3: 136.36
    Previous Daily Pivot Point R1: 140.07
    Previous Daily Pivot Point R2: 140.71
    Previous Daily Pivot Point R3: 141.93

 

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