• GBP/JPY nears week's highs, showing cautious uptrend despite lower high.
  • Support at 190.96, resistance at 192.00 mark pivot points.
  • Market eyes technical indicators, global economy for future direction.

The GBP/JPY posted decent gains of 0.17% on Friday amid a risk-on impulse following the release of market-moving economic data from the United States. Nonfarm Payrolls for March exceeded estimates, though they barely benefitted the US Dollar as witnessed by the GBP/USD. At the time of writing, the pair exchanges hands at 191.60 after hitting a low of 190.67.

GBP/JPY Price Analysis: Technical outlook

The pair finished the session near the mid-highs of the week but below the 192.00 figure. With he GBP/JPY achieving a lower high and low, the pair is slightly tilted to the downside, despite standing above the Ichimoku Cloud (Kumo).

Hence, the GBP/JPY first support would be the Senkou Span A at 190.96. A breach of the latter will expose the Kijun-Sen at 190.74, followed b the April 2 low of 190.03. Further downside is seen at the Senkou Span B at 189.38.

On the other hand, the first resistance would be the 192.00 mark. A breach of the latter will expose the 193.00 figure, followed by the year-to-date (YTD) high at 193.54.

GBP/JPY Price Action – Daily Chart

GBP/JPY

Overview
Today last price 191.61
Today Daily Change 0.28
Today Daily Change % 0.15
Today daily open 191.33
 
Trends
Daily SMA20 190.63
Daily SMA50 189.63
Daily SMA100 186.94
Daily SMA200 185.03
 
Levels
Previous Daily High 192.25
Previous Daily Low 191.02
Previous Weekly High 191.68
Previous Weekly Low 190.35
Previous Monthly High 193.54
Previous Monthly Low 187.96
Daily Fibonacci 38.2% 191.49
Daily Fibonacci 61.8% 191.78
Daily Pivot Point S1 190.82
Daily Pivot Point S2 190.3
Daily Pivot Point S3 189.59
Daily Pivot Point R1 192.05
Daily Pivot Point R2 192.76
Daily Pivot Point R3 193.28

 

 

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