GBP/JPY hits four-month highs at the 142.00 zone, holds onto gains

GBP/JPY heads for the highest close since February 2020.
Pound outperforms on Tuesday after BoE Bailey comments.

Matías Salord FXStreet

The GBP/JPY pair rose further during the American session and printed a fresh four-month high at 142.02. The pound failed to make a run above 142.00 and pulled back modestly.

As of writing, it trades at 141.80, up a hundred pips for the day, on its way to the highest close since February 2020. A stronger pound across the board continues to support the cross.

GBP outperforms on Tuesday

The pound is the best performer among majors on Tuesday. Comments from Bank of England Governor Bailey on European hours were seen as not so dovish, reducing expectations of negative interest rates. He called it a “controversial issue”.

The latest numbers showed 45,530 new COVID-19 cases in the UK, below 46,170 of a day ago. The trend continues to show an improvement.

EUR/GBP dropped to 0.8919, the lowest level since November, adding strength to the pound. GBP/USD rose above 1.3600, and it was holding onto important daily gains.

Technical levels

GBP/JPY

Overview
Today last price	141.9
Today Daily Change	1.05
Today Daily Change %	0.75
Today daily open	140.85

Trends
Daily SMA20	140.09
Daily SMA50	139.13
Daily SMA100	138.09
Daily SMA200	136.45

Levels
Previous Daily High	141.04
Previous Daily Low	140.34
Previous Weekly High	141.38
Previous Weekly Low	139.51
Previous Monthly High	141.23
Previous Monthly Low	136.79
Daily Fibonacci 38.2%	140.61
Daily Fibonacci 61.8%	140.77
Daily Pivot Point S1	140.45
Daily Pivot Point S2	140.05
Daily Pivot Point S3	139.76
Daily Pivot Point R1	141.14
Daily Pivot Point R2	141.43
Daily Pivot Point R3	141.83

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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