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 revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.