• GBP/JPY picks up bids to refresh intraday high, snaps two-day downtrend.
  • 78.6% Fibonacci retracement, two-month-old resistance line challenge bulls.
  • Fortnight-long support line restricts immediate downside, 200-DMA offers extra hurdle to the north.

GBP/JPY refreshes intraday high to 150.38, up 0.16% on a day while consolidating the latest losses ahead of Tuesday’s European morning.

The cross-currency pair keeps the bounce off a two-week-long ascending support line amid bullish MACD signals to direct GBP/JPY towards 78.6% Fibonacci retracement level of July-October upside, near 150.50.

However, a downward sloping trend line from late October, near 151.20, will be a tough nut to crack for the GBP/JPY buyers, which if broken could direct the quote towards the 200-DMA level of 152.50.

Alternatively, a downside break of the stated nearby support line, surrounding 149.60, will highlight the monthly low and September’s bottom around 149.00.

Also acting as the key support is July’s low of 148.46 and late 2019 peak of 147.95.

To sum up, GBP/JPY licks its wounds but remains on the bear’s radar.

GBP/JPY: Daily chart

Trend: Further recovery expected

Additional important levels

Today last price 150.35
Today Daily Change 0.22
Today Daily Change % 0.15%
Today daily open 150.13
Daily SMA20 150.95
Daily SMA50 153.4
Daily SMA100 152.43
Daily SMA200 152.52
Previous Daily High 150.62
Previous Daily Low 149.53
Previous Weekly High 152.64
Previous Weekly Low 149.77
Previous Monthly High 156.5
Previous Monthly Low 149.73
Daily Fibonacci 38.2% 149.95
Daily Fibonacci 61.8% 150.2
Daily Pivot Point S1 149.57
Daily Pivot Point S2 149.01
Daily Pivot Point S3 148.49
Daily Pivot Point R1 150.65
Daily Pivot Point R2 151.18
Daily Pivot Point R3 151.74



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD bulls seek a break of 0.6925 for 0.6950 target area

AUD/USD bulls seek a break of 0.6925 for 0.6950 target area

AUD/USD is consolidated at the start of the Asian day following some back and forth at the start of the week. The Aussie is trading at 0.6922 and will be dependent on the trajectory of the greenback in the absence of domestic data this week other than Retail Sales tomorrow. 


EUR/USD retreats from fortnight high near 1.0600 on recession/inflation fears

EUR/USD retreats from fortnight high near 1.0600 on recession/inflation fears

EUR/USD holds onto the pullback from a two-week high as bulls get rejections from short-term key resistances, as well as risk-off mood, during Tuesday’s Asian session. The major currency pair remains pressured around 1.0585.


Gold bounces off $1,820 support zone, focus on US data, Fed’s Powell

Gold bounces off $1,820 support zone, focus on US data, Fed’s Powell

Gold Price consolidates recent losses at around $1,825.00 during Tuesday’s Asian session. In doing so, the yellow metal takes clues from the market’s cautious optimism ahead of the key US consumer sentiment numbers and the much-awaited central bankers’ debate at the ECB forum.

Gold News

ApeCoin price edges near a critical level, is the uptrend genuine?

ApeCoin price edges near a critical level, is the uptrend genuine?

ApeCoin price shows compression of two Simple Moving Averages as price consolidates. APE price shows bullish re-entrance on the Volume Profile pattern, but traders should steer away from being early buyers. Invalidation of the bear trend remains at $6.15.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!