GBP/JPY hobbled at 140.00 as markets spread the middle

Risk-based pairs struggle to pick up momentum ahead of News Year's.
The Guppy remains constrained at the 140.00 key level as investors await a push in either direction.

Joshua Gibson FXStreet

GBP/JPY continues to grind sideways around the 140.00 major handle as broader markets see overall sentiment remain hung in the middle.

Economic data is clear for the rest of Monday's thin action, though markets will likely remain trepidatious ahead of the New Years holiday after Chinese Manufacturing PMI missed the mark.

Heading into January, the Sterling will be facing down a fresh volley of political headlines, with Prime Minister Theresa May's Brexit withdrawal proposal finally set to make the rounds of the UK's House of Commons prior to a parliamentary vote on the bill, which looked set for a failure in December, but May and her allies are hoping to squeeze more yes votes out of naysayers by running down the Brexit clock. PM May will be facing her own vote in the UK's parliament in January, when the UK's House of Commons is also expected to begin with a no-confidence vote in PM May, tabled by the UK's main opposition Labour Party.

GBP/JPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 140.08
    Today Daily change: 9.0 pips
    Today Daily change %: 0.0643%
    Today Daily Open: 139.99
Trends:
    Previous Daily SMA20: 142.14
    Previous Daily SMA50: 144.29
    Previous Daily SMA100: 144.96
    Previous Daily SMA200: 146.37
Levels:
    Previous Daily High: 140.61
    Previous Daily Low: 139.49
    Previous Weekly High: 141.04
    Previous Weekly Low: 138.86
    Previous Monthly High: 149.5
    Previous Monthly Low: 144.02
    Previous Daily Fibonacci 38.2%: 139.91
    Previous Daily Fibonacci 61.8%: 140.18
    Previous Daily Pivot Point S1: 139.45
    Previous Daily Pivot Point S2: 138.9
    Previous Daily Pivot Point S3: 138.32
    Previous Daily Pivot Point R1: 140.57
    Previous Daily Pivot Point R2: 141.15
    Previous Daily Pivot Point R3: 141.7

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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