The pennant breakout on the GBP/JPY pair indicates the revival of rally, as represented by the ascending trendline connecting the Aug. 15 low and Sept. 7 low. The 5-day and 10-day exponential moving averages (MAs) are trending north, indicating a bullish setup. A similar message is being delivered by the ascending 50-hour, 100-hour and 200-hour EMAs. The relative strength index (RSI) on the hourly and daily chart is also biased toward the bulls. All this, coupled with Brexit optimism indicates scope for a test of 150.00. Hourly Chart Spot Rate: 149.28 Daily High: 149.51 Daily Low: 149.07 Trend: Bullish Resistance R1: 149.42 (Oct. 1 high) R2: 149.72 (Sept. 21 high) R3: 150.00 (psychological level) Support S1: 149.10 (Sept. 26 high) S2: 148.74 (5-day EMA) S3:148.37 (10-day EMA) 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: Corrective bounce ahead, bull divergence on 1H RSI FX Street 4 years The pennant breakout on the GBP/JPY pair indicates the revival of rally, as represented by the ascending trendline connecting the Aug. 15 low and Sept. 7 low. The 5-day and 10-day exponential moving averages (MAs) are trending north, indicating a bullish setup. A similar message is being delivered by the ascending 50-hour, 100-hour and 200-hour EMAs. The relative strength index (RSI) on the hourly and daily chart is also biased toward the bulls. All this, coupled with Brexit optimism indicates scope for a test of 150.00. Hourly Chart Spot Rate: 149.28 Daily High: 149.51 Daily Low: 149.07 Trend: Bullish Resistance… 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.
