GBP/JPY traders near the three-day low. A downside break of 21-day SMA holds the key to further declines towards recent range lows, 200-day SMA. Late-May high can challenge buyers during an upside. GBP/JPY traders look for direction as the pair seesaws between 21-day SMA and 61.8% Fibonacci retracement while taking rounds to 140.30 during the Asian session on Wednesday. While recent lows near 139.40/35 can offer immediate support to the pair during the downside break of 21-day Simple Moving Average (SMA) level of 140.07, 200-day SMA around 138.50 will be the key to watch afterward. If prices slip below 138.50 on a daily closing basis, sellers targeting 50% Fibonacci retracement of March-August downpour, at 137.76, will sneak in. Alternatively, a daily closing beyond 61.8% Fibonacci retracement level of 140.40 can again push buyers towards late-May high nearing 141.75. Though, pair’s further advances will target 143.80/75 area including multiple lows marked in March and April month. GBP/JPY daily 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 AU Leading Index keep signaling weak economic momentum carrying into 2020 – Westpac FX Street 3 years GBP/JPY traders near the three-day low. A downside break of 21-day SMA holds the key to further declines towards recent range lows, 200-day SMA. Late-May high can challenge buyers during an upside. GBP/JPY traders look for direction as the pair seesaws between 21-day SMA and 61.8% Fibonacci retracement while taking rounds to 140.30 during the Asian session on Wednesday. While recent lows near 139.40/35 can offer immediate support to the pair during the downside break of 21-day Simple Moving Average (SMA) level of 140.07, 200-day SMA around 138.50 will be the key to watch afterward. If prices slip below 138.50… 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.
