GBP/JPY Price Analysis: More gains seen while above 151.70

GBP/JPY extended the rally from 149.00 after breaking 151.70.
Bullish bias remains in place, next targets at 152.35 and 152.65.

Matías Salord FXStreet

The GBP/JPY resumed the upside, after a consolidation on Friday and climbed to 151.17, reaching the highest level since September 17. It remains near the top, holding above 152.00 with a bullish tone intact.

Technical indicators favor more gains over the next session, with the next target around 152.30. Above the next resistance stands at 152.60.

A decline under 151.60 should alleviate the bearish pressure, while a break under 150.80 would expose 150.00.

The pound is up for the fourth consecutive day versus the yen and it climbed above the 20 and 55-day simple moving average. A pause may look likely; still, a daily close above 151.50 should point to more gains.

GBP/JPY 4-hour chart

GBP/JPY

Overview
Today last price	152.06
Today Daily Change	0.58
Today Daily Change %	0.38
Today daily open	151.48

Trends
Daily SMA20	151.33
Daily SMA50	151.5
Daily SMA100	152.75
Daily SMA200	149.88

Levels
Previous Daily High	151.74
Previous Daily Low	151
Previous Weekly High	151.74
Previous Weekly Low	148.96
Previous Monthly High	153.32
Previous Monthly Low	149.19
Daily Fibonacci 38.2%	151.46
Daily Fibonacci 61.8%	151.28
Daily Pivot Point S1	151.07
Daily Pivot Point S2	150.67
Daily Pivot Point S3	150.34
Daily Pivot Point R1	151.81
Daily Pivot Point R2	152.14
Daily Pivot Point R3	152.55

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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