简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:In doing so, the cross-currency pair justifies the previous days Doji candlestick, as well as bearish MACD signals, by taking a U-turn from the 21-DMA.
GBP/JPY pares intraday gains as short-term moving average tests buyers.
Downbeat MACD signals, the previous days bearish candlestick also tease sellers.
Bears need validation from 50% Fibonacci retracement level to retake controls.
GBP/JPY retreats from the intraday high while consolidating the daily gains around 163.45 during Mondays Asian session.
Other than the 21-DMA hurdle of 163.60, a horizontal area comprising multiple levels marked since late March also challenges the GBP/JPY buyers around 164.65-75.
Should the quote rise past-164.75, the odds of witnessing a run-up towards April‘s peak of 168.43 can’t be ruled out.
On the flip side, the 160.00 threshold may entertain GBP/JPY bears ahead of directing them to the 50% Fibonacci retracement (Fibo.) of March-April upside, near 159.65.
It‘s worth noting, however, that a daily closing below 159.65 will need validation from March’s low surrounding 159.00 before highlighting the 61.8% Fibo level of 157.59 for the pair sellers.
To sum up, GBP/JPY buyers seem exhausted but the bears have a long way before retaking the control.
GBP/JPY: Daily chart
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
There are many illegal platforms that offer financial services to clients. These scammers hide the risks involved because their main goal is to steal your money. That’s why it’s so important to understand the dangers of trading on illegal forex platforms
Trade Capital Limited is in the news for conducting bad practices as a forex broker. Check out the unethical practices employed by it to scam investors in this article.
US Federal Reserve Chair Jerome Powell may slash the policy rate in September 2025, according to research economists at Goldman Sachs. Read this to learn more.
Pay Attention! This is a serious warning you shouldn't ignore. Check out this article and know the 5 red flags about the Mirrox that every trader must be aware of.