The GBP/JPY pair could re-test the support of the trendline connecting the Jan. 2 and Jan. 15 lows in the next few hours, as a key indicator has diverged in favor of the bears.
4-hour chart
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- As seen above, the trendline trending north from Jan.2 lows is currently located at 143.53. Notably, that support could soon come into play, as the relative strength index (RSI) is no longer confirming highs on the pice (i.e. diverged in favor of the bears). Further, doji-like candles are signaling bullish indecision/exhaustion.
- Acceptance under the trendline support could yield a deeper drop to 142.75.
Trend: pullback likely
GBP/JPY
Overview:
Today Last Price: 144.33
Today Daily change: -0.37 pips
Today Daily change %: -0.26%
Today Daily Open: 144.7
Trends:
Daily SMA20: 140.07
Daily SMA50: 141.87
Daily SMA100: 144.44
Daily SMA200: 145.3
Levels:
Previous Daily High: 144.85
Previous Daily Low: 143.07
Previous Weekly High: 144.85
Previous Weekly Low: 140.62
Previous Monthly High: 145.52
Previous Monthly Low: 138.86
Daily Fibonacci 38.2%: 144.17
Daily Fibonacci 61.8%: 143.75
Daily Pivot Point S1: 143.56
Daily Pivot Point S2: 142.43
Daily Pivot Point S3: 141.78
Daily Pivot Point R1: 145.34
Daily Pivot Point R2: 145.99
Daily Pivot Point R3: 147.12
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