GBPJPY testing Fibonacci 61.8%

On the four-hour time frame, we use Fibonacci retracement levels, and based on that, we see that the pair reached 61.8% levels at 151.00. Since the bullish trend is, we can expect it to continue towards the 78.6% level at 151.70. The pair again gets support for moving averages, especially by crossing the MA50, and for additional support, the MA20 and EMA20 need to make a break above the MA50 line. If the pound weakens support, we look for the first one at 50.0% Fibonacci level at 150.50. A deeper retreat brings us to a psychological level at 150.00.