GBP/JPY bounces off monthly low amid oversold RSI conditions. A one-week-old falling trend line gains buyers’ attention during further recovery. The GBP/JPY pair recovers from 200-bar SMA while trading around 139.65 during Monday morning in Asia. The quote’s the recent pullback, amid oversold conditions of 14-bar Relative Strength Index (RSI), shifts bull’s attention to a downward sloping resistance line since November 18, at 140.67 now. However, a sustained clearance of 140.00 round-figure will be necessary for that. In a case, prices move successfully beyond the near-term key resistance line, monthly to surrounding 141.60 will return to charts. On the downside, pair’s declines below 200-bar Simple Moving Average (SMA) level of 139.46 can take rest on 23.6% Fibonacci Retracement of October-November upside, at 138.95. Should there be bearish formation around 138.95, sellers can target October 11 high near 137.90 during further declines. GBP/JPY 4-hour chart Trend: Further recovery likely 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 WTI stays above 200-day SMA as risk tone recovers, Iran poses threats FX Street 3 years GBP/JPY bounces off monthly low amid oversold RSI conditions. A one-week-old falling trend line gains buyers' attention during further recovery. The GBP/JPY pair recovers from 200-bar SMA while trading around 139.65 during Monday morning in Asia. The quote's the recent pullback, amid oversold conditions of 14-bar Relative Strength Index (RSI), shifts bull's attention to a downward sloping resistance line since November 18, at 140.67 now. However, a sustained clearance of 140.00 round-figure will be necessary for that. In a case, prices move successfully beyond the near-term key resistance line, monthly to surrounding 141.60 will return to charts. On the downside,… 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.
