News

GBP/JPY Price Analysis: Pound pops and falters near 131.00 figure, bearish

  • GBP/JPY starts the week with a modest pop to the 131.00 figure. 
  • The level to beat for sellers is the 130.00 figure. 
 

GBP/JPY four-hour chart

 
GBP/JPY is trading below its main SMA on the four-hour chart while making lower lows and lower highs, suggesting negative momentum as the currency cross is trading off 6-week lows. Sellers remain in full control and further price declines are to be expected with the spot likely targetting 130.00, 129.45 and 128.81 price levels to the downside. On the flip side, the recent pop found strong resistance near the 130.80 level. Further up lie the 131.46 and 132.29 levels. 
 
 
 
Resistance: 130.80, 131.46, 132.29
Support: 130.00, 129.45, 128.81
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.