GBP/JPY Price Analysis: Buyers reclaimed 192.00 as morning star forms

GBP/JPY climbs past 192.00, buoyed by light economic data and upbeat sentiment.
Resistance at 192.24, 192.50, with eyes on 193.00+.
Defined support levels mark potential reversal points if retreat occurs.

Christian Borjon Valencia FXStreet

The GBP/JPY climbed 0.29% late in the North American session after bouncing off daily lows reached earlier at around 191.35. Risk appetite improvement amid a light economic docket sponsored a rally in the cross-pair, which trades at 192.10.

GBP/JPY Price Analysis: Technical outlook

The GBP/JPY daily chart suggests the air is neutral to slightly upwards after buyers reclaimed 192.00. If the pair surpasses the April 4 high of 192.24, look for a test of 192.50. A breach of the latter will open the door to challenging the 193.00 figure. Further upside is seen at 193.53.

On the other hand, if the cross dives below 192.00, that would expose the Tenkan-Sen level at 191.14. Once surpassed, the next support would be the Senkou Span A at 190.94, ahead of the Kijun-Sen at 190.74. in further weakness, the next stop would be the April 2 low of 190.03.

GBP/JPY Price Action – Daily Chart

GBP/JPY

Overview
Today last price	192.1
Today Daily Change	0.48
Today Daily Change %	0.25
Today daily open	191.62

Trends
Daily SMA20	190.76
Daily SMA50	189.7
Daily SMA100	187
Daily SMA200	185.07

Levels
Previous Daily High	191.64
Previous Daily Low	190.68
Previous Weekly High	192.25
Previous Weekly Low	190.04
Previous Monthly High	193.54
Previous Monthly Low	187.96
Daily Fibonacci 38.2%	191.27
Daily Fibonacci 61.8%	191.05
Daily Pivot Point S1	190.99
Daily Pivot Point S2	190.35
Daily Pivot Point S3	190.03
Daily Pivot Point R1	191.95
Daily Pivot Point R2	192.28
Daily Pivot Point R3	192.91

Author

Christian Borjon Valencia

FXStreet

Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.

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