The GBP/JPY rate reached above to 23.6 percent 50-day Fibonacci, as the yen continued to grow weaker. Fibonacci - based off the famous infinite math sequence from 13-century Italy - is a metric often used in FX trading to find key levels of support and resistance. Essentially, the sequence potentially reveals thresholds on which traders can buy or sell assets and are regularly set as profit targets. When these retracements are met, traders will act.
British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 19, 2024
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Statista. (December 20, 2024). British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 19, 2024 [Graph]. In Statista. Retrieved January 06, 2025, from https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista. "British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 19, 2024." Chart. December 20, 2024. Statista. Accessed January 06, 2025. https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista. (2024). British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 19, 2024. Statista. Statista Inc.. Accessed: January 06, 2025. https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista. "British Pound Sterling (Gbp) to Japanese Yen (Jpy) Fibonacci Retracement as of December 19, 2024." Statista, Statista Inc., 20 Dec 2024, https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista, British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 19, 2024 Statista, https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/ (last visited January 06, 2025)
British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 19, 2024 [Graph], Statista, December 20, 2024. [Online]. Available: https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
