GBP/JPY snaps the previous two-day losses while flashing mild gains. A three-week-old ascending trend channel portrays the pair’s strength. The channel’s support, 200-bar SMA offer strong support. GBP/JPY registers a swing inside the short-term rising trend channel while taking the bids to 134.75, up 0.25% on a day, during the initial hour of Tokyo open on Friday. While the bullish technical formation favors the pair’s run-up, a one-week-old falling trend line near 135.35 can offer immediate upside barrier during the further recovery. It should, however, be noted that the quote’s ability to cross 135.35 doesn’t allow it to rally beyond the said channel’s upper line, currently at 136.15. On the downside, a confluence of 200-bar SMA and the channel’s lower line offers the key support around 133.20, a break of which could quickly recall March 20 high surrounding 132.00. GBP/JPY four-hour chart Trend: Bullish 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 USD/JPY consolidating the mixed risk-tone and COVID-19 headlines FX Street 2 years GBP/JPY snaps the previous two-day losses while flashing mild gains. A three-week-old ascending trend channel portrays the pair’s strength. The channel’s support, 200-bar SMA offer strong support. GBP/JPY registers a swing inside the short-term rising trend channel while taking the bids to 134.75, up 0.25% on a day, during the initial hour of Tokyo open on Friday. While the bullish technical formation favors the pair’s run-up, a one-week-old falling trend line near 135.35 can offer immediate upside barrier during the further recovery. It should, however, be noted that the quote’s ability to cross 135.35 doesn’t allow it to rally beyond… 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.
