GBP/JPY jumps above 141.00 to highest in a month as pound soars

GBP/JPY advances for the third consecutive day, to highest since early May.
Pound outperforms, hits one-month highs versus US dollar.

Matías Salord FXStreet

The GBP/JPY broke above 133.65 during the American session and jumped to 134.29, hitting the highest level since May 1^st. It then pulled back and as of writing, it is hovering around 134.05/10, up more than a hundred pips from Friday’s close.

The move higher was driven by a rally of the British pound across the board. EUR/GBP plummeted from 0.9000, reaching levels under 0.8950 while GPB/USD spiked to 1.2488, a one-month high amid broad US dollar weakness.

The yen is posting mixed results. Equity prices in the US are mostly flat wile US yield are modestly higher. The Dow Jones is up just 0.07% while the S&P 500 gains 0.09%.

Technical levels

The GBP/JPY hold a bullish tone that was reinforced after the consolidation above 133.00, that now is a critical support. The immediate support stands at 133.65 (Asian session high). On the upside, the next barrier is seen at 134.45/50 followed by 134.85.

GBP/JPY

Overview
Today last price	134.16
Today Daily Change	1.11
Today Daily Change %	0.83
Today daily open	133.05

Trends
Daily SMA20	131.73
Daily SMA50	132.81
Daily SMA100	136.36
Daily SMA200	137.28

Levels
Previous Daily High	133.46
Previous Daily Low	131.78
Previous Weekly High	133.46
Previous Weekly Low	130.89
Previous Monthly High	135.08
Previous Monthly Low	129.32
Daily Fibonacci 38.2%	132.82
Daily Fibonacci 61.8%	132.42
Daily Pivot Point S1	132.07
Daily Pivot Point S2	131.08
Daily Pivot Point S3	130.38
Daily Pivot Point R1	133.75
Daily Pivot Point R2	134.45
Daily Pivot Point R3	135.43

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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