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.

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