- 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||136.59|
|Today Daily Change||-0.06|
|Today Daily Change %||-0.04%|
|Today daily open||136.65|
|Previous Daily High||137.26|
|Previous Daily Low||135.93|
|Previous Weekly High||137.86|
|Previous Weekly Low||135.4|
|Previous Monthly High||142.72|
|Previous Monthly Low||133.05|
|Daily Fibonacci 38.2%||136.75|
|Daily Fibonacci 61.8%||136.44|
|Daily Pivot Point S1||135.97|
|Daily Pivot Point S2||135.29|
|Daily Pivot Point S3||134.65|
|Daily Pivot Point R1||137.29|
|Daily Pivot Point R2||137.93|
|Daily Pivot Point R3||138.61|
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