GBP/JPY takes the bids near three week high above 136.50. 100-day and 200-day EMA probe the pair’s sustained break of 61.8% Fibonacci retracement. RSI recovery from oversold conditions suggests further upside. GBP/JPY refreshes the multiday high while rising to 136.56 during the early Thursday. In doing so, the pair keeps the previous day’s run-up beyond 61.8% Fibonacci retracement of June-September upside while confronting the 100-day EMA. Although recovery in RSI indicates the pair’s ability to cross the immediate EMA resistance near 136.60, the 200-day EMA level near 136.75 can question the quote’s further advances. Should GBP/JPY bulls keep the reins past-136.75, a 50% Fibonacci retracement level of 137.22 will appear on the market player’s radar. Meanwhile, sellers targeting the September month’s low of 133.04 will take entries once the GBP/JPY prices decline below 61.8% Fibonacci retracement level of 135.93. During declines between 135.93 and 133.04, 135.0 and 134.30 are likely stops that the bears may avail. GBP/JPY daily chart Trend: Further upside expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD’s upside capped by bearish 10-day SMA FX Street 2 years GBP/JPY takes the bids near three week high above 136.50. 100-day and 200-day EMA probe the pair’s sustained break of 61.8% Fibonacci retracement. RSI recovery from oversold conditions suggests further upside. GBP/JPY refreshes the multiday high while rising to 136.56 during the early Thursday. In doing so, the pair keeps the previous day’s run-up beyond 61.8% Fibonacci retracement of June-September upside while confronting the 100-day EMA. Although recovery in RSI indicates the pair’s ability to cross the immediate EMA resistance near 136.60, the 200-day EMA level near 136.75 can question the quote’s further advances. Should GBP/JPY bulls keep the reins… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
