GBP/JPY repeats the recent pattern of alternative losses with gains above 50% Fibonacci retracement. November low acts as the immediate key upside barrier ahead of 100-day SMA. September 2019 tops could please bears below the key Fibonacci support. GBP/JPY registers mild gains of 0.15% while rising to 137.52 as the Tokyo session begins for Friday. In doing so, the pair takes another U-turn from 50% Fibonacci retracement of its August-December upside. However, a 200-day SMA level around 137.70 acts as immediate resistance ahead of November 2019 low near 139.30. Additionally, 38.2% Fibonacci retracement near 139.80, 140.00 round-figure and January month bottom close to 140.80 can keep the bulls checked before directing them towards a 100-day SMA level of 141.80. Meanwhile, bearish MACD conditions continue to favor the sellers looking for entry below 50% Fibonacci retracement level of 137.30. In doing so, September 2019 high near 135.75, as well as 61.8% Fibonacci retracement near 134.77, could entertain the bears. GBP/JPY daily chart Trend: Sideways to bearish 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 China’s GDP likely to drop to 3.5% in Q1 2020 vs. 6.0% in Q4 2019 – Reuters poll FX Street 3 years GBP/JPY repeats the recent pattern of alternative losses with gains above 50% Fibonacci retracement. November low acts as the immediate key upside barrier ahead of 100-day SMA. September 2019 tops could please bears below the key Fibonacci support. GBP/JPY registers mild gains of 0.15% while rising to 137.52 as the Tokyo session begins for Friday. In doing so, the pair takes another U-turn from 50% Fibonacci retracement of its August-December upside. However, a 200-day SMA level around 137.70 acts as immediate resistance ahead of November 2019 low near 139.30. Additionally, 38.2% Fibonacci retracement near 139.80, 140.00 round-figure and January month… 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.
