GBP/JPY ending a possible bearish correction around 140.00

GBP/JPY ending a possible bearish correction around 140.00

GBP/JPY has started a corrective phase on June 20th as it managed to find a top around 142.53. During the last few days, the pair was doing an impulsive move from June 12th exactly and one could expect a demand to be found around the 200 SMA zone at H1 chart, given that it coincides with the Fibonacci retracement level of 50% at 140.61.

If we witness a rebound over there, GBP/JPY might look for the 142.53 level in a first degree, but the major target is placed around 143.44, where the -23.6% Fibonacci retracement level is located. To invalidate the bullish scenario, the pair needs to break below 139.51 (78.6%). RSI indicator is oversold at H1 chart.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera