The bull flag breakout seen in the GBP/JPY’s 15-minute chart indicates the 100-day moving average (MA), which proved a tough nut to crack last week, could be put to test again.
As of writing, the pair is trading at 143.50 and the long-term MA is seen at 144.62
15-min chart
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As seen above, the flag breakout witnessed earlier today has accelerated the preceding bullish move. More importantly, the breakout has opened up upside towards 144.60 – target as per the measured move method, that is, pole height added to breakout price.
Interestingly, the 10-day MA is also lined up just above 144.60.
The bullish setup would be invalidated below the psychological support of 144.00.
Trend: bullish
GBP/JPY
Overview:
Today Last Price: 143.49
Today Daily change: 0.22 pips
Today Daily change %: 0.15%
Today Daily Open: 143.27
Trends:
Daily SMA20: 141.3
Daily SMA50: 141.72
Daily SMA100: 144.31
Daily SMA200: 145.08
Levels:
Previous Daily High: 143.5
Previous Daily Low: 142.08
Previous Weekly High: 144.73
Previous Weekly Low: 142.08
Previous Monthly High: 144.85
Previous Monthly Low: 131.79
Daily Fibonacci 38.2%: 142.96
Daily Fibonacci 61.8%: 142.62
Daily Pivot Point S1: 142.4
Daily Pivot Point S2: 141.53
Daily Pivot Point S3: 140.98
Daily Pivot Point R1: 143.82
Daily Pivot Point R2: 144.37
Daily Pivot Point R3: 145.24
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