GBP/JPY fails to hold strength beyond 61.8% Fibonacci retracement. A downside break of 200-day SMA can recall a 50% Fibonacci retracement level. The late-may high will be on the bull’s radar. Having slipped back beneath 61.8% Fibonacci retracement of March-August downpour, GBP/JPY traders await a downside break of 200-day SMA for confirmation of the latest weakness. The quote seesaws near 139.70 by the press time of Wednesday’s Asian session. Should prices decline below 200-day Simple Moving Average (SMA) level of 138.74, 50% Fibonacci retracement level of 137.70 will become the sellers’ target. However, early-July high and September month top, close to 136.30 and 135.65 respectively, will lure bears during pair’s further declines below 137.70. Meanwhile, buyers will look for a successful break above the late-May high of 141.75 to target April month lows near 143.75. It’s worth noting that 140.00 round-figure can act as an immediate upside barrier. 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 Algorand obtains certification for Sharia-compliant financing FX Street 3 years GBP/JPY fails to hold strength beyond 61.8% Fibonacci retracement. A downside break of 200-day SMA can recall a 50% Fibonacci retracement level. The late-may high will be on the bull's radar. Having slipped back beneath 61.8% Fibonacci retracement of March-August downpour, GBP/JPY traders await a downside break of 200-day SMA for confirmation of the latest weakness. The quote seesaws near 139.70 by the press time of Wednesday's Asian session. Should prices decline below 200-day Simple Moving Average (SMA) level of 138.74, 50% Fibonacci retracement level of 137.70 will become the sellers' target. However, early-July high and September month top, close… 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.
