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7 Nov 2018
GBP/JPY Technical Analysis: Minor pullback likely
- The GBP/JPY is currently trading at 148.65, having clocked a high of 148.90 earlier today.
- The hourly chart is showing a bearish divergence of the relative strength index (RSI) and stochastic. Further, the MACD turned bearish a few minutes before press time. The 5-period and 10-period SMA on the hourly are beginning to roll over in favor of the bears.
- As a result, the JPY cross could revisit 148.00 (psychological hurdle) in the next few hours.
- A strong bounce from the ascending 50-hour exponential moving average (EMA) could reinforce a bullish view put forward by the rising 5-day and 10-day EMAs.
Hourly Chart
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Trend: Intraday bearish
GBP/JPY
Overview:
Last Price: 148.68
Daily change: 7.0 pips
Daily change: 0.0471%
Daily Open: 148.61
Trends:
Daily SMA20: 146.3
Daily SMA50: 146.49
Daily SMA100: 145.72
Daily SMA200: 147.48
Levels:
Daily High: 148.65
Daily Low: 147.3
Weekly High: 147.26
Weekly Low: 143.22
Monthly High: 149.52
Monthly Low: 142.78
Daily Fibonacci 38.2%: 148.13
Daily Fibonacci 61.8%: 147.82
Daily Pivot Point S1: 147.73
Daily Pivot Point S2: 146.85
Daily Pivot Point S3: 146.39
Daily Pivot Point R1: 149.07
Daily Pivot Point R2: 149.53
Daily Pivot Point R3: 150.41