GBP/JPY Technical Analysis: Finds decent support near 100-hour SMA, bulls eyeing a move beyond 144.00 handle
• The cross managed to find some support near 100-hour SMA and now seems to have stalled the recent corrective slide from over 1-1/2 month tops set on Friday.
GBP/JPY 1-hourly chart
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• Looking at the broader picture, the post-flash-crash recovery from 27-month lows has been along an ascending trend-channel formation on short-term charts.
• With technical indicators on 4-hourly/daily charts starting to regain positive traction, the set-up support prospects for the resumption of the recent bullish trend.
• A follow-through/sustained move above the 144.00 handle will reinforce the positive outlook and lift the cross towards conquering the 145.00 psychological mark.
4-hourly chart
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Important technical levels to watch
Overview:
Today Last Price: 143.93
Today Daily change %: -0.03%
Today Daily Open: 143.97
Trends:
Daily SMA20: 140.29
Daily SMA50: 141.86
Daily SMA100: 144.43
Daily SMA200: 145.26
Levels:
Previous Daily High: 144.73
Previous Daily Low: 143.6
Previous Weekly High: 144.85
Previous Weekly Low: 140.62
Previous Monthly High: 145.52
Previous Monthly Low: 138.86
Daily Fibonacci 38.2%: 144.03
Daily Fibonacci 61.8%: 144.3
Daily Pivot Point S1: 143.47
Daily Pivot Point S2: 142.97
Daily Pivot Point S3: 142.34
Daily Pivot Point R1: 144.6
Daily Pivot Point R2: 145.23
Daily Pivot Point R3: 145.73