GBP/JPY held a modest bullish tone on Tuesday but failed to extend the prior session’s 0.32% rise. The cross traded around 212.44, up 0.09% on the day, as a tight resistance cluster formed between 212.90 and 213.03, where the 61.8% Fibonacci retracement converges with the 200-day SMA at 212.93 and the 100-day SMA at 213.03.
Technical Indicators and Momentum
Momentum indicators remained mildly supportive, with RSI near 58 and the MACD line in positive territory, while ADX near 17 pointed to a weak underlying trend. A clean break above 212.90, together with the moving-average barrier, would shift attention to the 78.6% retracement at 214.54 and then the recent peak near 216.62. On the downside, support is seen at the 50% retracement near 211.76; below there, levels to watch include 210.61, 209.19 and the swing low near 206.90.
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