GBP/JPY Price Analysis: Consolidation underway, still vulnerable


  • 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

GBP/JPY

 

GBP/JPY

Overview
Today last price 150.4
Today Daily Change 0.08
Today Daily Change % 0.05
Today daily open 150.32
 
Trends
Daily SMA20 151.28
Daily SMA50 149.01
Daily SMA100 144.68
Daily SMA200 140.91
 
Levels
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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