“¢ The cross extended this week’s retracement from a resistance marked by the top end of an ascending trend-channel, held since the beginning of this month.
“¢ The corrective slide from near two-month tops extended for the third session in the previous four and has now dragged the cross to over one-week lows.
“¢ Technical indicators on hourly charts have been gaining negative momentum and support prospects for further weakness towards the trend-channel support.
“¢ The mentioned support coincides with 100-period EMA on the 4-hourly chart and should help limit further downside amid bullish oscillators on the daily chart.
“¢ Meanwhile, a convincing breakthrough the trend-channel support will mark a near-term bearish break and pave the way for an extension of the ongoing downfall.
GBP/JPY 4-hourly chart
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GBP/JPY
Overview:
Today Last Price: 142.59
Today Daily change %: -0.13%
Today Daily Open: 142.77
Trends:
Daily SMA20: 140.7
Daily SMA50: 141.8
Daily SMA100: 144.38
Daily SMA200: 145.17
Levels:
Previous Daily High: 143.6
Previous Daily Low: 142.73
Previous Weekly High: 144.85
Previous Weekly Low: 140.62
Previous Monthly High: 145.52
Previous Monthly Low: 138.86
Daily Fibonacci 38.2%: 143.06
Daily Fibonacci 61.8%: 143.27
Daily Pivot Point S1: 142.46
Daily Pivot Point S2: 142.16
Daily Pivot Point S3: 141.59
Daily Pivot Point R1: 143.34
Daily Pivot Point R2: 143.91
Daily Pivot Point R3: 144.21
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