- GBP/JPY is moving in a range between 149.80 and 150.60.
- The pound still shows some vulnerability to the downside, needs to recover above 150.60.
The GBP/JPY traded below 150.00, but it rose back above, holding firm to the current consolidation range, after the sharp slide from a multi-year high above 153.00 to 149.60.
The bias still favors the downside the area around 150.00 is becoming a strong support. A close below would clear the way for a test of the recent low at 149.60, and then to 149.45. Below the next support stands at 149.10.
A recovery above 150.60, the 20 simple moving average in four hours chart, would alleviate the bearish pressure and would open the doors for a test of 151.05/10 (horizontal resistance / previous uptrend line). Above 151.25 (20-day SMA), the outlook for the pound would improve.
GBP/JPY 4-hour chart
|Today last price||150.4|
|Today Daily Change||0.08|
|Today Daily Change %||0.05|
|Today daily open||150.32|
|Previous Daily High||150.94|
|Previous Daily Low||149.59|
|Previous Weekly High||153.42|
|Previous Weekly Low||149.59|
|Previous Monthly High||152.79|
|Previous Monthly Low||148.12|
|Daily Fibonacci 38.2%||150.42|
|Daily Fibonacci 61.8%||150.11|
|Daily Pivot Point S1||149.63|
|Daily Pivot Point S2||148.94|
|Daily Pivot Point S3||148.29|
|Daily Pivot Point R1||150.98|
|Daily Pivot Point R2||151.63|
|Daily Pivot Point R3||152.32|
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