# GBPJPY Triangle Retest (Aug 30, 2017) Source: https://www.tradersway.com/resources/market-info/gbpjpy-triangle-retest-aug-30-2017/ Language: en Updated: 2017-08-30 Description: Explore GBPJPY Triangle Retest (Aug 30, 2017). GBPJPY recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPJPY recently broke below the bottom of its ascending triangle visible on the daily time frame, signaling that a long-term selloff is in order. Price appears to be pulling up for a correction to the broken support around the 144.00 levels. Applying the Fibonacci retracement tool on the latest swing low and high shows that the 61.8% level is closest to the broken support, which might hold as resistance moving forward. The 100 SMA is close to the 50% Fib while the 200 SMA is in line with the 38.2% Fib, which could also be enough to keep gains in check. The short-term moving average is still above the longer-term 200 SMA, though, so the path of least resistance is still to the upside. However, the gap has narrowed to signal that a downward crossover might happen soon. Stochastic is still puling up from the oversold region to indicate a pickup in buying pressure. UK economic data was slightly weaker than expected as Nationwide reported that house prices fell 0.1% instead of staying flat. However, what really dragged the pound down was the ongoing Brexit talks as European Commission officials have been inclined to give the UK negotiating team a tough time. ![GBPJPY Triangle Retest (Aug 30, 2017)] Meanwhile, the yen got a boost from North Korea’s missile launch but gave back its recent gains when the prospect of an all-out nuclear strike faded. Still, an act of provocation from the hermit nation could be enough to boost safe-haven flows again. Japan’s retail sales data is due next and a 1.1% gain is eyed, slower than the earlier 2.2% increase. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpjpy-triangle-retest-aug-30-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpjpy-triangle-retest-aug-30-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpjpy-triangle-retest-aug-30-2017/", "headline": "GBPJPY Triangle Retest (Aug 30, 2017)", "inLanguage": "en", "datePublished": "2017-08-30T07:58:37+00:00", "dateModified": "2017-08-30T07:58:37+00:00", "articleSection": "Market Info", "description": "Explore GBPJPY Triangle Retest (Aug 30, 2017). GBPJPY recently. 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