Technical Analysis – GBPJPY set for another red day; 133.00 could be the next target

Posted on October 30, 2020 at 8:48 am GMT

GBPJPY is printing its eighth consecutive red tiny candle following its second rejection from the 50-day simple moving average (SMA). The price has slipped below the 38.2% Fibonacci retracement of the 124.00 – 142.69 upleg, and there appears no key obstacle in sight to prevent the decline from reaching the 50% Fibonacci of 133.30 as the RSI continues to decelerate towards its 50 neutral mark. The MACD is also gaining negative momentum, while the red Tenkan-sen is set to cross [..]


Technical Analysis – GBPJPY vulnerable, maintains a horizontal tone

Posted on October 23, 2020 at 8:06 am GMT

GBPJPY has become fixed between the capping 50-day simple moving average (SMA) and the mostly flattened 100-day SMA after attempts to improve faltered. The cloud and the steady Ichimoku lines, as well as the deteriorated bullish demeanour of the 50- and 100-day SMAs additionally endorse a directionless market. At the moment the short-term oscillators display momentum that is far from effective. The MACD is barely above its red trigger line and the zero threshold, while the downward-pointing RSI continues flirting [..]


Technical Analysis – GBPJPY capped by 50-day SMA, adopts neutral tone

Posted on October 16, 2020 at 9:50 am GMT

GBPJPY appears to have stalled around the mid-Bollinger band at 135.78 after efforts to push higher were curbed by the 50-day simple moving average (SMA). The pair is edging east as directional momentum has taken a back seat. Despite their recent bullish crossovers, the fading slopes of the converging 50- and 100-day SMAs are endorsing a sideways market, while the relatively horizontal tone of the 200-day SMA also backs this view. Currently, the short-term oscillators reflect conflicting signals in directional [..]


Technical Analysis – GBPJPY retreats below SMAs after progress curbed by 50.0% Fibo

Posted on October 14, 2020 at 8:28 am GMT

GBPJPY defied the 100-period simple moving average (SMA) at 135.87 but found some footing at the floor of the cloud. The sharp drop ahead of the 137.85 level, that being the 50.0% Fibonacci retracement of the down leg from 142.70 to 133.03, is weighing heavily on the cloud’s lower boundary. The negative tone within the declining Ichimoku lines endorses additional deterioration in the pair. The short-term oscillators also reflect strengthening negative momentum. The MACD underneath its red signal line, is [..]


Technical Analysis – GBPJPY guided by bullish channel; negative risks not faded yet

Posted on October 7, 2020 at 12:11 pm GMT

GBPJPY landed nicely at the 50-period simple moving average (SMA) in the four-hour chart on Tuesday following the rejection near the 200-period SMA. The downside move did not break the solid ascending channel, neither it violated the upward pattern started from September’s bottoms, keeping the very short-term outlook positive. That said, the bears have not abandoned the game yet according to the RSI, which is struggling to gain momentum above its 50 neutral level. The weakness in the MACD is [..]


Technical Analysis – GBPJPY holds below SMAs; looks to consolidate

Posted on October 2, 2020 at 8:29 am GMT

GBPJPY recently pivoted at the 133.03 mark and appears to have started what seems like a sideways market. The simple moving averages (SMAs) are somewhat converging, supporting this view. Additionally, the weakening negative charge within the Ichimoku lines and the cloud are aiding a shift into a horizontal formation. The short-term oscillators’ mixed signals also give the impression of undecided directional momentum. The MACD, in the negative region, is increasing above its red trigger line, while the RSI has deflected [..]


Technical Analysis – GBPJPY pauses near 23.6% Fibo; lacks direction

Posted on September 30, 2020 at 8:05 am GMT

GBPJPY has paused the downside movement at the 23.6% Fibonacci retracement level of the down leg from 142.70 to 133.00 at 135.32 in the very short-term. The MACD oscillator dipped below its trigger line in the positive zone, while the RSI is slipping above the 50 level. However, the 20- and 40-period simple moving averages (SMAs) completed a bullish crossover, acting as strong support for the bulls. A rebound on the 23.6% Fibo of 135.32 could take the price until [..]

Technical Analysis – GBPJPY pulls back after tumble below rising trend line

Posted on September 25, 2020 at 6:50 am GMT

GBPJPY is continuing the rebound off the 132.95 support level but with slower momentum, reaching the red Tenkan-sen line at 134.72. The very short-term bias looks positive as the stochastic keeps gaining ground above its oversold zone, creating a bullish crossover within its %K and %D lines, while the RSI is flattening near the 30 level. The 100-day simple moving average (SMA) currently at 135.72 could be a trigger point for steeper bullish actions. If the pair manages to break the lower [..]


Technical Analysis – GBPJPY slowing near 3-month lows; negative bearing intact

Posted on September 23, 2020 at 12:18 pm GMT

GBPJPY appears to have stalled its bearish trajectory ahead of the 132.93 border from July 1. The pause in the pair’s descent is also reflected in the short-term oscillators and the easing of the slopes of the negatively charged Ichimoku lines. The technical indicators are skewed to the downside despite displaying a slight improvement in momentum. The MACD, far below zero, has pushed above its red trigger line, while the RSI is pointing upwards after a bounce on the 30 [..]

Technical Analysis – GBPJPY trapped below 136.00; short-term bias bearish

Posted on September 18, 2020 at 7:41 am GMT

GBPJPY gathered enough support around 134.55 and a former resistance trendline on Thursday to continue the intense battle with the 136.00 ceiling where the bottom of the Ichimoku cloud and the 38.2% Fibonacci retracement of the March rally coincide. The short-term bias, however, remains largely bearish as the red Tenkan-sen line maintains a negative slope below the blue Kijun-sen line. Also, the MACD continues to lose ground below its zero and signal lines, while the RSI seems unable to regain strength towards [..]

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