- GBP/JPY fails to repeat Monday’s upbeat performance while easing from the short-term resistance line.
- 100-HMA, Friday’s low off halts before directing bears to the monthly low.
GBP/JPY drops to 136.56, down 0.05% intraday, during the pre-UK open trading on Tuesday. The pair surged to the highest in four days on Monday but failed to cross a downward sloping trend line from October 11.
The resultant moves tried bouncing off 100-HMA but failed to rise past-136.77, which in turn directs the quote towards revisiting the HMA level of 136.43.
With the normal RSI conditions favoring the bears, the quote is likely to remain pressured below 136.43 while directing the GBP/JPY sellers towards the 136.00 threshold.
Though, any more weakness below 136.00 will be tamed by a two-day bottom surrounding 135.40, a break of which will challenge the monthly low of 135.05.
Meanwhile, an upside clearance of the mentioned resistance line, at 137.20 now, will help the GBP/JPY bulls to aim for the monthly high near 137.85 before attacking the 138.00 round-figure.
GBP/JPY hourly chart
Additional important levels
|Today last price
|Today Daily Change
|Today Daily Change %
|Today daily open
|Previous Daily High
|Previous Daily Low
|Previous Weekly High
|Previous Weekly Low
|Previous Monthly High
|Previous Monthly Low
|Daily Fibonacci 38.2%
|Daily Fibonacci 61.8%
|Daily Pivot Point S1
|Daily Pivot Point S2
|Daily Pivot Point S3
|Daily Pivot Point R1
|Daily Pivot Point R2
|Daily Pivot Point R3
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.