GBP/JPY Technical Analysis: Seems poised to retest 145.50-60 supply zone
• Over the past 24-hours or so, the cross has been steadily moving higher along an ascending trend-line but lacked any strong follow-through beyond 50-hour SMA.
• Technical indicators on hourly charts have recovered from the negative territory and also started gaining positive momentum, supporting prospects for further intraday gains.
• However, oscillators on the daily chart maintain their bearish bias and hence, any further up-move might continue to confront some fresh supply near the 145.50-60 region.
• Alternatively, a convincing break below the mentioned trend-line support, near the 145.00 handle, might negate the positive outlook and prompt some fresh technical selling.
GBP/JPY 1-hourly chart
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GBP/JPY
Overview:
Today Last Price: 145.23
Today Daily change: 35 pips
Today Daily change %: 0.242%
Today Daily Open: 144.88
Trends:
Previous Daily SMA20: 146.22
Previous Daily SMA50: 146.82
Previous Daily SMA100: 145.74
Previous Daily SMA200: 147.03
Levels:
Previous Daily High: 145.74
Previous Daily Low: 144.59
Previous Weekly High: 145.96
Previous Weekly Low: 144.01
Previous Monthly High: 149.52
Previous Monthly Low: 142.78
Previous Daily Fibonacci 38.2%: 145.03
Previous Daily Fibonacci 61.8%: 145.3
Previous Daily Pivot Point S1: 144.4
Previous Daily Pivot Point S2: 143.92
Previous Daily Pivot Point S3: 143.25
Previous Daily Pivot Point R1: 145.55
Previous Daily Pivot Point R2: 146.22
Previous Daily Pivot Point R3: 146.7