Nearly four-week-old symmetrical triangle limits GBP/JPY moves below 200-bar SMA. 128.26/20 and 127.56/47 offer additional supports during the downside break. GBP/JPY keeps taking the rounds of a near-term symmetrical triangle as it trades around 129.50 during Tuesday’s Asian session. In addition to the formation’s resistance-line near 130.40, 200-bar simple moving average (SMA) of 131.33 also limits the quote’s upside ahead of fuelling it to July 31 top at 133. Alternatively, 128.26/20 and 127.56/47 can question the pair’s downside after the break of pattern support, at 128.42 now. Given the pair’s sustained trading below the key moving average, odds of its downpour are high, which in turn increases the importance of monthly low, at 126.54, for sellers on the break of 127.57 horizontal support. 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 NZD/USD technical analysis: Under pressure despite bullish turn by key indicator FX Street 4 years Nearly four-week-old symmetrical triangle limits GBP/JPY moves below 200-bar SMA. 128.26/20 and 127.56/47 offer additional supports during the downside break. GBP/JPY keeps taking the rounds of a near-term symmetrical triangle as it trades around 129.50 during Tuesday's Asian session. In addition to the formation's resistance-line near 130.40, 200-bar simple moving average (SMA) of 131.33 also limits the quote's upside ahead of fuelling it to July 31 top at 133. Alternatively, 128.26/20 and 127.56/47 can question the pair's downside after the break of pattern support, at 128.42 now. Given the pair's sustained trading below the key moving average, odds of its… 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.
