GBP/JPY seesaws between 139.35 and 140.75 since late-October. An absence of extreme RSI conditions keeps price momentum in check. Sustained trading beyond 200-bar SMA portrays the pair’s strength. While following a three-week-old trading range, GBP/JPY seesaws around a 100-bar SMA level of 140.00 during Wednesday’s Asian session. The pair has been trading between 139.35 and 140.75 since October 24 while the normal conditions, between 70 and 30, of 14-bar Relative Strength Index (RSI) also portray the choppy sentiment. As a result, buyers will look for entry beyond 140.75, targeting the previous month high of 141.51, whereas sellers could aim for 23.6% Fibonacci retracement of October month upside, at 138.91, on the downside break of 139.35. It’s worth mentioning that the pair’s sustained trading above 200-bar Simple Moving Average (SMA) level of 137.40 portrays the bullish bias, a break of which could fetch the quote to mid-October low surrounding 135.50. GBP/JPY 4-hour chart Trend: Sideways 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 depressed below $ 57 amid trade doubts, ahead of API FX Street 3 years GBP/JPY seesaws between 139.35 and 140.75 since late-October. An absence of extreme RSI conditions keeps price momentum in check. Sustained trading beyond 200-bar SMA portrays the pair's strength. While following a three-week-old trading range, GBP/JPY seesaws around a 100-bar SMA level of 140.00 during Wednesday's Asian session. The pair has been trading between 139.35 and 140.75 since October 24 while the normal conditions, between 70 and 30, of 14-bar Relative Strength Index (RSI) also portray the choppy sentiment. As a result, buyers will look for entry beyond 140.75, targeting the previous month high of 141.51, whereas sellers could aim for… 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.
