GBP/JPY stays positive after bouncing off 139.00. A three-day-old falling resistance line limits the immediate upside. The downside break of 200-HMA highlights 61.8% Fibonacci retracement as the next key support. Despite bouncing off 139.00, a short-term resistance line questions the GBP/JPY pair’s immediate upside as it trades near 140.30 during early Thursday. The pair needs to cross 140.45 resistance line in order to challenge monthly top surrounding 141.50. During pair’s sustained upside beyond 141.50, late-May high nearing 141.75 holds the key to rise towards April low near 143.75. Meanwhile, a 200-Hour Simple Moving Average (HMA) level of 139.10 acts as the key support, a break of which could fetch the quote to 50% and 61.8% Fibonacci retracements of October 14-17 rise, respectively around 138.50 and 137.80. Should there be additional weakness past-137.80, 136.50 and 136.00 will be on the bear’s radar. GBP/JPY hourly 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 USD/JPY declines to 108.60 amid fresh risk aversion, all eyes on the ECB FX Street 3 years GBP/JPY stays positive after bouncing off 139.00. A three-day-old falling resistance line limits the immediate upside. The downside break of 200-HMA highlights 61.8% Fibonacci retracement as the next key support. Despite bouncing off 139.00, a short-term resistance line questions the GBP/JPY pair's immediate upside as it trades near 140.30 during early Thursday. The pair needs to cross 140.45 resistance line in order to challenge monthly top surrounding 141.50. During pair's sustained upside beyond 141.50, late-May high nearing 141.75 holds the key to rise towards April low near 143.75. Meanwhile, a 200-Hour Simple Moving Average (HMA) level of 139.10 acts as… 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.
