{"id":102899,"date":"2020-08-06T05:04:59","date_gmt":"2020-08-06T09:04:59","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102899"},"modified":"2020-08-06T05:42:33","modified_gmt":"2020-08-06T09:42:33","slug":"103789-gbp-jpy-forms-bullish-pattern-boe-awaited","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\/","title":{"rendered":"GBP\/JPY Forms Bullish Pattern, BOE Awaited"},"content":{"rendered":"<ul>\n<li><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-jpy-exchange-rate-today\/\">GBP\/JPY<\/a> tries to conquer 138.6; bounce off 138.47<\/li>\n<li>RSI supports bullishness, BOE crucial<\/li>\n<li>The action above 139.00 will target 140.0 threshold<\/li>\n<li>Bears would like to see the price fall to a five-week trendline<\/li>\n<\/ul>\n<p>GBP\/JPY is awaiting the &#8220;Super Thursday&#8221; action and has formed a bullish formation ahead of the Bank of England monetary policy announcement.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-jpy-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to JPY exchange rate<\/span><\/a><\/div>\n<p>The bullish pennant formation with a supportive RSI suggests a rally to 140.00 if the price moves above 139.00. GBP\/JPY was trading around 138.55\/60 before the UK market open. The upside momentum can push the currency pair to test the early-February low of 140.92.<\/p>\n<p>Bulls will hope for further strength to test the February 2020 high near 145.00 after crossing February 18 low near 142.30.<\/p>\n<p>But, all eyes will be on BOE as any disappointment from the central bank will cause a downward slide below 138.4; bears will then try to push it further down to a five-week-old support line around 136.35.<\/p>\n<p>If bears successfully attack 136.35, then GBP\/JPY will try to find support near 200-bar SMA of 135.16.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">GBP Index Today - last 90 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-102903\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/d92a790df7c30ae323570152cbcdcb30.png\" alt=\"\" width=\"800\" height=\"348\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/d92a790df7c30ae323570152cbcdcb30.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/d92a790df7c30ae323570152cbcdcb30-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/d92a790df7c30ae323570152cbcdcb30-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/d92a790df7c30ae323570152cbcdcb30-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/JPY tries to conquer 138.6; bounce off 138.47 RSI supports bullishness, BOE crucial The action above 139.00 will target 140.0 threshold Bears would like to see the price fall to a five-week trendline GBP\/JPY is awaiting the &#8220;Super Thursday&#8221; action and has formed a bullish formation ahead of the Bank of England monetary policy announcement. [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5060,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,2675],"tags":[],"class_list":{"0":"post-102899","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-jpy"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/JPY Forms Bullish Pattern, BOE Awaited - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"GBP\\\/JPY Forms Bullish Pattern, BOE Awaited\",\"datePublished\":\"2020-08-06T09:04:59+00:00\",\"dateModified\":\"2020-08-06T09:42:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\\\/\"},\"wordCount\":258,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100739-gbp-eur-boe-lifts-pound-vs-euro.jpg\",\"articleSection\":[\"GBP\",\"JPY\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103789-gbp-jpy-forms-bullish-pattern-boe-awaited\\\/\",\"name\":\"GBP\\\/JPY Forms Bullish Pattern, BOE Awaited - 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