GBP/JPY Price Analysis: Pound again challenges 152.00/20

GBP/JPY bullish in the short-term while above 151.65.
A consolidation above 152.20 is needed to clear the way to more gains.

Matías Salord FXStreet

The GBP/JPY pair is again facing a strong barrier at the 152.00/152.20 band. A break higher would likely clear the way to more gains, probably targeting 152.80.

If the pound fails to break clearly above 152.00, it could correct lower under 151.60, holding in the 152.00-151.00 range. A decline below 151.00 should point to more weakness ahead for GBP/JPY.

Technical indicators favor the upside in GBP/JPY but it needs to surpass 152.20 over the next sessions; if not, the key level to watch will be 150.75, the 20-day moving average.

GBP/JPY 4-hour chart

GBP/JPY

Overview
Today last price	151.96
Today Daily Change	0.05
Today Daily Change %	0.03
Today daily open	151.91

Trends
Daily SMA20	150.68
Daily SMA50	150.75
Daily SMA100	146.63
Daily SMA200	142.22

Levels
Previous Daily High	152.06
Previous Daily Low	151
Previous Weekly High	152.41
Previous Weekly Low	149.54
Previous Monthly High	153.42
Previous Monthly Low	149.06
Daily Fibonacci 38.2%	151.66
Daily Fibonacci 61.8%	151.41
Daily Pivot Point S1	151.25
Daily Pivot Point S2	150.6
Daily Pivot Point S3	150.19
Daily Pivot Point R1	152.31
Daily Pivot Point R2	152.72
Daily Pivot Point R3	153.37

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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