GBP/JPY Price Analysis: Dips below 190.00 as bears regain control

GBP/JPY's descent under the 190.00 mark aligns with a broader downward trend, eyeing further technical levels.
A pivotal close below the February 29 low could open paths towards 188.73 Kijun-Sen and beyond.
Recovery hinges on reclaiming ground above 189.00, with resistances waiting at 189.71 and the early March highs.

Christian Borjon Valencia FXStreet

The GBP/JPY fell for the fourth straight day late in the North American session, set to finish the week with losses of 0.44%, below the 190.00 threshold. At the time of writing, the cross trades at 188.98, down 0.31%.

GBP/JPY Price Analysis: Technical outlook

After diving below February 29 low of 189.04, the GBP/JPY has tilted to the downside, but sellers need to achieve a daily close below that level, so they test the Kijun-Sen at 188.73. Further losses are seen at 188.00, followed by the 50-day moving average (DMA) at 187.47.

On the other hand, if buyers move in and the pair prints a close above 189.00, that could sponsor a leg up. The first resistance would be the Tenkan-Sen at 189.71, followed by the March 7 high at 190.14. the next ceiling level would be the March 4 high at 191.18.

GBP/JPY Price Action – Daily Chart

GBP/JPY

Overview
Today last price	188.98
Today Daily Change	-0.69
Today Daily Change %	-0.36
Today daily open	189.67

Trends
Daily SMA20	189.87
Daily SMA50	187.34
Daily SMA100	185.68
Daily SMA200	183.85

Levels
Previous Daily High	190.31
Previous Daily Low	188.24
Previous Weekly High	191.33
Previous Weekly Low	189.05
Previous Monthly High	191.33
Previous Monthly Low	185.23
Daily Fibonacci 38.2%	189.03
Daily Fibonacci 61.8%	189.52
Daily Pivot Point S1	188.5
Daily Pivot Point S2	187.33
Daily Pivot Point S3	186.42
Daily Pivot Point R1	190.58
Daily Pivot Point R2	191.48
Daily Pivot Point R3	192.65

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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