GBP/JPY holds onto losses from the weekly top surrounding 132.50. 23.6% Fibonacci retracement, 130.00 round-figure lures intraday sellers. The immediate falling trend line acts as the key resistance. GBP/JPY drops to the intraday low of 131.23, down 0.31% on a day, amid the initial trading hours of Thursday. While extending its pullback moves from the weekly top of 132.51, the pair recently slipped below 200-HMA, which in turn signals further downside amid bearish MACD. As a result, 23.6% Fibonacci retracement of May 11-17 decline, around 130.25, is likely on the bears’ radar as nearby key support. Though, 130.00 mark could stop further selling, if not then the monthly low near 129.30 can be refreshed. Alternatively, a pullback beyond the 200-HMA level of 131.45 will have to cross 61.8% Fibonacci retracement level of 131.72 to challenge the two-day-old resistance line, at 132.00 now. If at all the GBP/JPY prices remain positive beyond 132.00, the weekly high of 132.51 and May 11 top surrounding 133.20 could check the bulls afterward. GBP/JPY hourly chart Trend: 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 Governments may ban private gold ownership – Hedge fund tycoon Crispin Odey FX Street 2 years GBP/JPY holds onto losses from the weekly top surrounding 132.50. 23.6% Fibonacci retracement, 130.00 round-figure lures intraday sellers. The immediate falling trend line acts as the key resistance. GBP/JPY drops to the intraday low of 131.23, down 0.31% on a day, amid the initial trading hours of Thursday. While extending its pullback moves from the weekly top of 132.51, the pair recently slipped below 200-HMA, which in turn signals further downside amid bearish MACD. As a result, 23.6% Fibonacci retracement of May 11-17 decline, around 130.25, is likely on the bears’ radar as nearby key support. Though, 130.00 mark could… 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.
