GBP/JPY Price Analysis: Climbs, but buyers loom, targeting 191.00

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.

Christian Borjon Valencia FXStreet

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

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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