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   “¢   Despite the overnight sharp swings, the cross showed remarkable resilience below the key 145.00 psychological mark and 61.8% Fibonacci retracement level of the 143.72-147.78 recent upsurge.  

   “¢   The cross managed to regain positive traction on Wednesday and climbed further beyond the 146.00 handle, albeit the positive momentum seemed to have run out of steam ahead of 200-hour SMA.

   “¢   Technical indicators on the daily chart maintained their bullish bias and have again started gaining positive traction on hourly charts, supporting prospects for an extension of the intraday up-move.

   “¢   However, it would be prudent to wait for a sustained move beyond the mentioned hurdle before traders start positioning for a move beyond the 147.00 mark, towards retesting the 147.70 supply zone.  

GBP/JPY 1-hourly chart


       Today Last Price:  146.2
       Today Daily change:  63  pips
       Today Daily change %:  0.43%
       Today Daily Open:  145.57
       Daily SMA20:  145.34
       Daily SMA50:  142.83
       Daily SMA100:  143.43
       Daily SMA200:  144.66
       Previous Daily High:  147.81
       Previous Daily Low:  144.58
       Previous Weekly High:  148.47
       Previous Weekly Low:  144.31
       Previous Monthly High:  148.28
       Previous Monthly Low:  141.01
       Daily Fibonacci 38.2%:  145.81
       Daily Fibonacci 61.8%:  146.57
       Daily Pivot Point S1:  144.16
       Daily Pivot Point S2:  142.76
       Daily Pivot Point S3:  140.94
       Daily Pivot Point R1:  147.39
       Daily Pivot Point R2:  149.21
       Daily Pivot Point R3:  150.62