XAU/USD ran into the resistance of the 50-day MA in the 1,481.65 area. Learn more!
GBP/JPY tests the upside
BUY 141.60; TP 143.25; SL 141.40
It looks like GBP/JPY is finally trying to break out of the recent consolidation. The pair’s trading above 140.30 (the triangle resistance line and 61.8% Fibo retracement of the March-August decline). Moving averages on the D1 are in the positive setup. The advance above October high at 141.50 will open the way up to 143.25 (100-week MA) and 144.00 (78.6% Fibo). If the price returns to 140.30, new buyers may appear. The further support is at 139.40 and 138.450 (200-day MA).
Technically, Brent made a big advance yesterday rising from the support of the 100- and 50-day MAs in the 61.25 area.
The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday.
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