GBP/JPY Technical Analysis: Bulls take breather near 145.00 handle, dip-buying to limit any meaningful slide
• The cross built on the overnight strong upsurge and climbed to 2-1/2 month tops on Wednesday, albeit struggled to extend the momentum beyond the key 145.00 psychological mark.
• Overbought conditions on hourly charts turned out to be the only factor keeping a lid on any strong follow-through up-move, rather seemed to prompt some profit-taking at higher levels.
• However, given the overnight bullish breakthrough over three-week-old descending trend-channel, dips are likely to be used as a buying opportunity and should help to limit any meaningful slide.
GBP/JPY 4-hourly chart
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GBP/JPY
Overview:
Today Last Price: 144.65
Today Daily change %: 0.08%
Today Daily Open: 144.53
Trends:
Daily SMA20: 142.88
Daily SMA50: 141.34
Daily SMA100: 143.65
Daily SMA200: 144.71
Levels:
Previous Daily High: 144.71
Previous Daily Low: 142.46
Previous Weekly High: 143.34
Previous Weekly Low: 141.01
Previous Monthly High: 144.85
Previous Monthly Low: 131.79
Daily Fibonacci 38.2%: 143.85
Daily Fibonacci 61.8%: 143.32
Daily Pivot Point S1: 143.09
Daily Pivot Point S2: 141.66
Daily Pivot Point S3: 140.85
Daily Pivot Point R1: 145.34
Daily Pivot Point R2: 146.15
Daily Pivot Point R3: 147.58