GBP/JPY remains positive while holding recovery gains from the multi-week low. 50% Fibonacci retracement, November 2019 low add to the resistance. A downside below 61.8% Fibonacci retracement highlights September 2019 high as the key support. GBP/JPY rises 0.14% to 138.53 during the Asian session on Thursday. With this, the quote manages to extend its U-turn from 61.8% Fibonacci retracement of October-December 2019 upside while also clearing 5-day SMA. That said, buyers are now looking towards 50% Fibonacci retracement and November 2019 low, respectively around 139.20 and 139.35, as immediate upside targets. However, multiple barriers around 140.00 and 140.70 could challenge the bulls past-139.35. On the downside, the pair’s declines below 61.8% Fibonacci retracement level of 137.10 can drag the quote to September 2019 high of 135.75. GBP/JPY daily chart Trend: Pullback 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 NZD/USD registers four-day winning streak, coronavirus news in focus FX Street 2 years GBP/JPY remains positive while holding recovery gains from the multi-week low. 50% Fibonacci retracement, November 2019 low add to the resistance. A downside below 61.8% Fibonacci retracement highlights September 2019 high as the key support. GBP/JPY rises 0.14% to 138.53 during the Asian session on Thursday. With this, the quote manages to extend its U-turn from 61.8% Fibonacci retracement of October-December 2019 upside while also clearing 5-day SMA. That said, buyers are now looking towards 50% Fibonacci retracement and November 2019 low, respectively around 139.20 and 139.35, as immediate upside targets. However, multiple barriers around 140.00 and 140.70 could challenge… 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.
