GBP/JPY Price Analysis: Bullish in the short-term while above 152.80

GBP/JPY keeps facing a strong resistance at 153.30/50.
The bullish bias is still in place, but the price is near critical short-term support.

Matías Salord FXStreet

The GBP/JPY is moving with a slightly bullish bias, facing a strong resistance around 153.30/50. The bullish outlook is being supported by the critical area around 152.85/90, which contains the 21-SMA and recent lows.

A consolidation below 152.80 should point to further losses to the pound, with the next support seen at 152.30. The slide under 152.80 should negate the bullish outlook.

On the upside, a break above 153.50 should add more strength to the pound, leaving the road open to 154.00. The next resistance is seen at 154.45.

Technical indicators are biased to the upside, but the recent consolidation of GBP/JPY around 153.00 flattened indicators.

GBP/JPY 4-hour chart

GBP/JPY

Overview
Today last price	153.1
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	153.1

Trends
Daily SMA20	152.02
Daily SMA50	153.18
Daily SMA100	152.7
Daily SMA200	147.81

Levels
Previous Daily High	153.32
Previous Daily Low	152.62
Previous Weekly High	153.25
Previous Weekly Low	151.17
Previous Monthly High	154.08
Previous Monthly Low	148.46
Daily Fibonacci 38.2%	153.05
Daily Fibonacci 61.8%	152.89
Daily Pivot Point S1	152.71
Daily Pivot Point S2	152.32
Daily Pivot Point S3	152.01
Daily Pivot Point R1	153.4
Daily Pivot Point R2	153.71
Daily Pivot Point R3	154.1

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.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.