GBP/JPY Price Analysis: Between two trendlines with modest positive bias


  • The recovery of GBP/JPY losses momentum on a quiet Monday.
  • Price unable to hit a new high, still making higher lows.

The GBP/JPY is moving with a slightly bullish bias. It is trading between two relevant trendlines, from June highs and from the low. Price is above the 21-SMA in four-hour charts, facing resistance at 153.75. Above the next area to watch is 154.00, followed by 154.25.

Technical indicators offer no clear signs. RSI suggests some modesty upside potential, and the momentum is moving south, about to break 100. The lack of volume on Monday contributes to flatten indicators.

The downtrend line is seen at 154.80/85. A break higher should negate any bearish bias and would open the doors to 155.00 and to a test of 155.75, the last line of protection to the May top.

On the downside, the key level is 153.20/30, an uptrend line that if broken should clear the way to more losses, with an immediate target at 152.70. Below the next support is seen above 152.00.

GBP/JPY 4-hour chart

gbjppy

GBP/JPY

Overview
Today last price 153.65
Today Daily Change 0.04
Today Daily Change % 0.03
Today daily open 153.61
 
Trends
Daily SMA20 154.18
Daily SMA50 153.8
Daily SMA100 152
Daily SMA200 145.67
 
Levels
Previous Daily High 153.73
Previous Daily Low 153.08
Previous Weekly High 154.23
Previous Weekly Low 152.62
Previous Monthly High 155.94
Previous Monthly Low 151.32
Daily Fibonacci 38.2% 153.33
Daily Fibonacci 61.8% 153.49
Daily Pivot Point S1 153.22
Daily Pivot Point S2 152.83
Daily Pivot Point S3 152.57
Daily Pivot Point R1 153.87
Daily Pivot Point R2 154.12
Daily Pivot Point R3 154.52

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.

EUR/USD News

GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 

GBP/USD News

XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more

Forex MAJORS

Cryptocurrencies

Signatures