GBP/JPY inches toward 152.00 amid improved risk sentiment

GBP/JPY accumulates gains for the past five consecutive sessions.
The sterling benefits from the drop in fresh coronavirus cases, upbeat economic data.
Yen remains on the backfoot on uncontained coronavirus cases, BOJ concerns over the economic recovery.

Rekha Chauhan Independent Analyst

GBP/JPY moves cautiously toward the 152.00 mark in the European trading hour on Thursday. The pair hovers in a narrow trade band with an upside bias.

At the time of writing, the GBP/JPY pair is trading at 151.56, up 0.09% for the day.

The sterling remains firm after the reports that the UK’s coronavirus infections drop slightly on Wednesday, there were 35,847 cases recorded up to the time.

The Brexit chaos keeps GBP/JPY gains in check, in the latest development, new Brexit rules from moving goods from Northern Ireland to the rest of the UK have been delayed as per the BBC.

It is worth noting that, the S&P 500 Futures are trading at 4,524 with 0.031% losses.

On the other hand, the Japanese yen pares its gains on rising coronavirus cases, fresh 20,031 cases were recorded on Wednesday.

The Bank of Japan Board Member Goushi Kataoka expressed his concern over the coronavirus pandemic impact on the economy to linger for a longer time period than expected.

On the economic data front, the factory activity in Japan rose for the seventh straight month in August.

As for now, the market dynamics continues to influence the pair’s performance.

GBP/JPY additional levels

GBP/JPY

Overview
Today last price	151.52
Today Daily Change	0.06
Today Daily Change %	0.04
Today daily open	151.46

Trends
Daily SMA20	151.49
Daily SMA50	152.07
Daily SMA100	152.7
Daily SMA200	148.85

Levels
Previous Daily High	151.95
Previous Daily Low	151.26
Previous Weekly High	151.6
Previous Weekly Low	149.4
Previous Monthly High	153.32
Previous Monthly Low	149.19
Daily Fibonacci 38.2%	151.69
Daily Fibonacci 61.8%	151.52
Daily Pivot Point S1	151.16
Daily Pivot Point S2	150.86
Daily Pivot Point S3	150.47
Daily Pivot Point R1	151.86
Daily Pivot Point R2	152.25
Daily Pivot Point R3	152.55

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