GBP/JPY Price Analysis: Hovers at around 186.30s awaiting fresh data

GBP/JPY trades flat around 186.31, within today's 186.18/186.77 range.
Facing resistance at Tenkan-Sen (186.89), with 187.00 as next upside target.
Crossing above 187.73 from last Friday could aim for 188.00 resistance.
Dropping below this week’s low of 186.14 eyes 186.00, then Senkou Span A (185.36) and early February's 185.22 low.

Christian Borjon Valencia FXStreet

The GBP/JPY is virtually unchanged during the North American session, with the pair consolidating within a tight 186.18/186.77 range on Tuesday. At the time of writing, the pair exchanges hands at 186.31.

The cross-pair trades directionless, awaiting fresh market data, capped on the upside by the Tenkan-Sen at 186.89, ahead of the psychological 187.00 figure. If buyers reclaim last Friday's high of 187.73, that would pave the way to challenge 188.00.

Conversely, if sellers drag the exchange rate below the current week’s low of 186.14, the next demand zone would be the 186.00 mark. If selling pressure extends below that area, the next support would be the Senkou Span A at 185.36, ahead of the February 1 low of 185.22. once those levels are cleared, 185.00 is up next.

GBP/JPY Price Action – Daily Chart

GBP/JPY Technical Levels

GBP/JPY

Overview
Today last price	186.3
Today Daily Change	-0.06
Today Daily Change %	-0.03
Today daily open	186.36

Trends
Daily SMA20	186.85
Daily SMA50	184.28
Daily SMA100	183.95
Daily SMA200	181.75

Levels
Previous Daily High	187.67
Previous Daily Low	186.18
Previous Weekly High	188.3
Previous Weekly Low	185.23
Previous Monthly High	188.94
Previous Monthly Low	178.74
Daily Fibonacci 38.2%	186.75
Daily Fibonacci 61.8%	187.1
Daily Pivot Point S1	185.8
Daily Pivot Point S2	185.24
Daily Pivot Point S3	184.3
Daily Pivot Point R1	187.3
Daily Pivot Point R2	188.23
Daily Pivot Point R3	188.8

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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