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18 Feb 2019

GBP/JPY Technical Analysis: Bulls await a sustained break through 3-week old descending trend-channel

   •  The cross built on Friday's goodish bounce from the 141.00 round figure mark and is currently placed at the top end of over three-week-old descending trend-channel.

   •  Technical indicators on 4-hourly/daily chart have again started gaining positive traction and support prospects for an extension of the ongoing bullish trajectory.

GBP/JPY 4-hourly chart

   •  Moreover, the fact that the cross is holding comfortably above important intraday moving averages - 50, 100 & 200-hour SMAs, add credence to the constructive outlook.

   •  However, traders are likely to wait for a convincing breakthrough the channel hurdle before positioning for further up-move amid slightly overbought conditions on the 1-hourly chart.

1-hourly chart

Technical levels to watch

GBP/JPY

Overview:
    Today Last Price: 142.84
    Today Daily change %: 0.36%
    Today Daily Open: 142.33
Trends:
    Daily SMA20: 142.66
    Daily SMA50: 141.27
    Daily SMA100: 143.74
    Daily SMA200: 144.76
Levels:
    Previous Daily High: 142.41
    Previous Daily Low: 141.01
    Previous Weekly High: 143.34
    Previous Weekly Low: 141.01
    Previous Monthly High: 144.85
    Previous Monthly Low: 131.79
    Daily Fibonacci 38.2%: 141.88
    Daily Fibonacci 61.8%: 141.55
    Daily Pivot Point S1: 141.43
    Daily Pivot Point S2: 140.52
    Daily Pivot Point S3: 140.03
    Daily Pivot Point R1: 142.82
    Daily Pivot Point R2: 143.32
    Daily Pivot Point R3: 144.22

 

Feb 18, 2019

USD/JPY steadily climbs to session tops, further beyond mid-110.00s

   •  Risk-on mood/US-China trade optimism continues to weigh on JPY’s safe-haven status.    •  The prevalent USD selling bias seemed to be the only f
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Feb 18, 2019

EUR/USD Technical Analysis: Spot remains supported by 2018 low at 1.1215

EUR/USD daily chart EUR/USD Overview:     Today Last Price: 1.131     Today Daily change: 36 pips     Today Daily change %: 0.11%     Today Daily
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