GBP/JPY Price Analysis: Consolidates at four-month highs near 155.30


  • GBP/JPY continues its weekly gains on Thursday in the early European session.
  • A daily break above 155.30 exposes June’s high at 155.96.
  • Momentum oscillator support bullish momentum.

The GBP/JPY cross pushes higher on Thursday morning. The pair books gains for the sixth straight session. At the time of writing, the GBP/JPY cross-currency pair is trading at 155.17, up 0.31% on the day.

GBP/JPY daily chart

On the daily chart, the GBP/JPY cross currency pair has risen sharply after breaking the strong long-time resistance barrier near the 152.90-153.00 zone. Now, the descending trendline from May’s high at 156.07 exerts some downward pressure on the pair. If the price sustains above the intraday high, it could easily move toward 156.07.

Furthermore, the Moving Average Convergence Divergence (MACD) indicator holds within the overbought zone. Any uptick in the MACD would bring  2018 highs near 156.61 on the bull’s radar.

On the reverse side, the spot would meet the 154.40 horizontal support level and then Tuesday’s low at 153.68. The GBP/JPY bears would then approach the 153.00 psychological mark on the additional weakness. 

GBP/JPY additional levels to watch out

GBP/JPY

Overview
Today last price 155.2
Today Daily Change 0.50
Today Daily Change % 0.32
Today daily open 154.7
 
Trends
Daily SMA20 151.47
Daily SMA50 151.57
Daily SMA100 152.48
Daily SMA200 150.65
 
Levels
Previous Daily High 154.96
Previous Daily Low 154.12
Previous Weekly High 152.94
Previous Weekly Low 150.22
Previous Monthly High 152.85
Previous Monthly Low 148.96
Daily Fibonacci 38.2% 154.64
Daily Fibonacci 61.8% 154.44
Daily Pivot Point S1 154.23
Daily Pivot Point S2 153.75
Daily Pivot Point S3 153.38
Daily Pivot Point R1 155.07
Daily Pivot Point R2 155.44
Daily Pivot Point R3 155.91

 


 

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