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GBP/JPY Price Analysis: Pound challenging 4-day lows vs. Japanese yen

  • GBP/JPY is challenging the 130.80 support this Wednesday.
  • Bears are back in control eyeing the 130.00 figure.
 

GBP/JPY four-hour chart

 
GBP/JPY is trading below the main SMA on the four-hour chart suggesting a downward bias. The spot is challenging the 130.80 support where the market found some support a few days ago. However as the dominant trend remains down, bears can try to overcome the 130.80 support level and set their eyes on the 130.00 figure. 
 
 
 
Resistance: 132.00, 133.00
Support: 130.80, 130.00
 

Additional key levels

 

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