GBP/JPY near-term flatlining at 144.75 ahead of the UK's Inflation Hearings
|- GBP/JPY stuck on the south end of 145.00 as market sentiment remains hung.
- Brexit continues to bear down on the GBP.
GBP/JPY remains tied up in a near-term sideways channel from 144.40 to 145.35, and the Guppy is hung up just shy of the 145.00 handle heading through early Tuesday action.
Brexit concerns continue to keep the Sterling chained down, but with market sentiment remaining stacked on the averse side the GBP/JPY is running out of room to run lower, and the pair is steadily trading sideways for this week as longer-term technical traders keep the pair buoyed from just above the 144.00 critical level, which has been a common turning point for the Guppy since May of 2018.
The economic calendar continues to deliver more of the same, and the Bank of Japan's (BoJ) Kuroda delivered steady rhetoric early Tuesday that mirrors the Japanese central bank's common stance, though the BoJ governor did go so far as to rule out further easing policies to come, despite admitting that the BoJ's 2% inflation target is unlikely to appear before 2021.
On the UK side of the economic calendar, Tuesday brings Inflation hearings from the Bank of England's (BoE) Mark Carney at 08:00 GMT< but broader markets may very well find their hands full of a constant stream of Brexit headlines in the run-up.
GBP/JPY Technical levels
GBP/JPY
Overview:
Last Price: 144.76
Daily change: 13 pips
Daily change: 0.0899%
Daily Open: 144.63
Trends:
Daily SMA20: 146.05
Daily SMA50: 147.01
Daily SMA100: 145.84
Daily SMA200: 147.18
Levels:
Daily High: 145.32
Daily Low: 144.3
Weekly High: 148.74
Weekly Low: 144.26
Monthly High: 149.52
Monthly Low: 142.78
Daily Fibonacci 38.2%: 144.69
Daily Fibonacci 61.8%: 144.93
Daily Pivot Point S1: 144.18
Daily Pivot Point S2: 143.72
Daily Pivot Point S3: 143.15
Daily Pivot Point R1: 145.2
Daily Pivot Point R2: 145.78
Daily Pivot Point R3: 146.23
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