GBP/JPY has met hourly resistance at 147.99 (R2), posting a NY session high of 148.05, so far. Hourly and daily RSI popped above 70 and hourly MACD is turning lower also. ATR is 1.3408, and the daily range, so far, is between a low of 146.15 and 148.05,(or 1.9000), somewhat higher than the ATR and signifies an exhausted top-side move. However, the Chikou Span (Lagging Span) remains very distant from price, (bullish) although the shorter-term Tenken line looks set to cross below the Kijun (neutral/less bullish) at this juncture. A period of consolidation is likely before a further upside more to target the early Nov swing highs at 149.48 – (daily MACD also offers the potential for further upside). 147.09 would be a 50% retrecament of the move from the daily lows to recent swing highs where bulls might wish to enter longs for further upside potential. Conversely, a break of 147.00 would target the daily pivot at 146.34 and then S1 located at 145.63. GBP/JPY daily chart 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 Gold Technical Analysis: Yellow Metal bears looking at $1,314.00/oz FX Street 4 years GBP/JPY has met hourly resistance at 147.99 (R2), posting a NY session high of 148.05, so far. Hourly and daily RSI popped above 70 and hourly MACD is turning lower also. ATR is 1.3408, and the daily range, so far, is between a low of 146.15 and 148.05,(or 1.9000), somewhat higher than the ATR and signifies an exhausted top-side move. However, the Chikou Span (Lagging Span) remains very distant from price, (bullish) although the shorter-term Tenken line looks set to cross below the Kijun (neutral/less bullish) at this juncture. A period of consolidation is likely before a further… 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.
