- Despite the overnight sharp swings, the cross showed remarkable resilience below the key 145.00 psychological mark and 61.8% Fibonacci retracement level of the 143.72-147.78 recent upsurge.
- The cross managed to regain positive traction on Wednesday and climbed further beyond the 146.00 handle, albeit the positive momentum seemed to have run out of steam ahead of 200-hour SMA.
- Technical indicators on the daily chart maintained their bullish bias and have again started gaining positive traction on hourly charts, supporting prospects for an extension of the intraday up-move.
- However, it would be prudent to wait for a sustained move beyond the mentioned hurdle before traders start positioning for a move beyond the 147.00 mark, towards retesting the 147.70 supply zone.
GBP/JPY 1-hourly chart
Overview:
Today Last Price: 146.2
Today Daily change: 63 pips
Today Daily change %: 0.43%
Today Daily Open: 145.57
Trends:
Daily SMA20: 145.34
Daily SMA50: 142.83
Daily SMA100: 143.43
Daily SMA200: 144.66
Levels:
Previous Daily High: 147.81
Previous Daily Low: 144.58
Previous Weekly High: 148.47
Previous Weekly Low: 144.31
Previous Monthly High: 148.28
Previous Monthly Low: 141.01
Daily Fibonacci 38.2%: 145.81
Daily Fibonacci 61.8%: 146.57
Daily Pivot Point S1: 144.16
Daily Pivot Point S2: 142.76
Daily Pivot Point S3: 140.94
Daily Pivot Point R1: 147.39
Daily Pivot Point R2: 149.21
Daily Pivot Point R3: 150.62
Source: https://www.fxstreet.com/news/gbp-jpy-t ... 1903131004
