GBP/JPY retraces from the short-term key resistance line, stays beyond 50% Fibonacci retracement. 61.8% Fibonacci retracement, 200-day SMA offer additional filters to the upside. Multiple rest-points around the monthly low can entertain sellers during further declines. GBP/JPY consolidates the latest recovery gains to 135.30 amid the early Asian session on Wednesday. In doing so, the pair steps back ascending trend line stretched since March 12 while also staying above 50% Fibonacci retracement level of February-March downside. While bullish MACD and sustained trading beyond the key Fibonacci retracement favor the buyers, the quote needs to provide a successful break above 135.40 to escalate the run-up towards 61.8% Fibonacci retracement level of 137.00. Even so, 200-day SMA, currently around 137.15, could keep the bulls in check beyond 135.40. Alternatively, the pair’s declines below 134.50, comprising 50% Fibonacci retracement, can recall the monthly lows near 132.50/45. GBP/JPY daily 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 ASX 200 Index: Risk-on helps bulls through 38.2% target level FX Street 2 years GBP/JPY retraces from the short-term key resistance line, stays beyond 50% Fibonacci retracement. 61.8% Fibonacci retracement, 200-day SMA offer additional filters to the upside. Multiple rest-points around the monthly low can entertain sellers during further declines. GBP/JPY consolidates the latest recovery gains to 135.30 amid the early Asian session on Wednesday. In doing so, the pair steps back ascending trend line stretched since March 12 while also staying above 50% Fibonacci retracement level of February-March downside. While bullish MACD and sustained trading beyond the key Fibonacci retracement favor the buyers, the quote needs to provide a successful break above 135.40… Top 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.
