The GBP/JPY rate reached close to a 61.8 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 June 4, 2024
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Statista. (June 5, 2024). British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of June 4, 2024 [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista. "British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of June 4, 2024." Chart. June 5, 2024. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista. (2024). British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of June 4, 2024. Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista. "British Pound Sterling (Gbp) to Japanese Yen (Jpy) Fibonacci Retracement as of June 4, 2024." Statista, Statista Inc., 5 Jun 2024, https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
Statista, British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of June 4, 2024 Statista, https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/ (last visited December 03, 2024)
British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of June 4, 2024 [Graph], Statista, June 5, 2024. [Online]. Available: https://www.statista.com/statistics/1336432/gbp-jpy-fibonacci-retracement/
