“¢ The cross, for the second straight session, showed resilience and staged a goodish rebound from 50% Fibonacci retracement level of the 142.77-149.49 recent upsurge.
“¢ Bulls managed to lift the cross back above 38.2% Fibonacci retracement level, albeit seemed struggling to extend the momentum beyond 200-hour Exponential MA (EMA).
“¢ Meanwhile, technical indicators on the 1-hourly chart have been gaining positive momentum and thus, support prospects for an extension of the intraday bullish move.
However, it would be prudent to wait for a sustained move beyond the mentioned barrier before traders start positioning for any further near-term appreciating move.
GBP/JPY 1-hourly chart
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GBP/JPY
Overview:
Last Price: 147.26
Daily change: 1.0e+2 pips
Daily change: 0.718%
Daily Open: 146.21
Trends:
Daily SMA20: 146.33
Daily SMA50: 146.79
Daily SMA100: 145.81
Daily SMA200: 147.35
Levels:
Daily High: 147.58
Daily Low: 146.07
Weekly High: 149.5
Weekly Low: 146.86
Monthly High: 149.52
Monthly Low: 142.78
Daily Fibonacci 38.2%: 146.65
Daily Fibonacci 61.8%: 147.01
Daily Pivot Point S1: 145.66
Daily Pivot Point S2: 145.11
Daily Pivot Point S3: 144.15
Daily Pivot Point R1: 147.17
Daily Pivot Point R2: 148.14
Daily Pivot Point R3: 148.69
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