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.

GBP/USD holds gains near 1.3300, NFP data eyed

GBP/USD gains traction to near 1.3300 in the European session on Thursday. The British Pound strengthens against the US Dollar as the UK's likely next Prime Minister, Andy Burnham, has eased market concerns by pledging strict fiscal discipline. The US Nonfarm Payrolls data for June will take center stage later on Thursday.

EUR/USD grinds higher toward 1.1400 ahead of US NFP

EUR/USD ticks higher toward 1.1400 in the early European trading hours on Thursday. However, the pair lacks bullish conviction as traders eagerly await the release of the crucial US Nonfarm Payrolls report for a fresh directional impetus.

Gold extends gains on weaker USD; limited upside potential amid Fed bets, ahead of US NFP

Gold hits a fresh daily top heading into the European session, and looks to build on its steady intraday ascent amid a modest US Dollar downtick. However, elevated US Federal Reserve rate-hike expectations, along with geopolitical risks, act as a tailwind for the buck, keeping the bullion confined within the previous day's broader range. Traders also seem reluctant and await the release of the closely watched US monthly employment details before placing aggressive directional bets.

Ripple and Stellar build on recovery as traders turn cautiously bullish

Ripple and Stellar extend recovery as improving market sentiment supports a rebound. XRP trades above $1.05 while XLM climbs past $0.199. Traders should remain cautious, as mixed on-chain and derivatives data indicate a modest bullish bias, and further upside may depend on sustained buying momentum.

Nonfarm Payrolls set to grow by over 100K in June, reinforcing bets of upcoming Fed rate hikes

The United States Bureau of Labor Statistics will release the Nonfarm Payrolls data for June on Thursday at 12:30 GMT. Investors expect NFP to rise by 110K following three consecutive months of surprisingly strong increases. Investors are pricing in a hawkish Federal Reserve policy outlook with the new Chairman Kevin Warsh at the helm.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.