GBP/JPY Price Analysis: Pound extends recovery to 151.00

GBP/JPY extends rebound and prints highs 151.09.
Bullish tone prevails in the short-term, needs to break 151.00.

Matías Salord FXStreet

The rebound of the GBP/JPY pair from 149.08 continues on Tuesday. The pound found resistance at the 151.00/10 barrier. A break higher would open the doors to more gains targeting 151.50/55.

The short-term outlook would remain bullish while above 150.00; the convergence of a horizontal support and the 21 simple moving average in four hours chart. Indicators favor the upside, but it is facing a strong resistance at the moment.

A slide bel0w 150.00 would suggest an extension to the 149.60 area. Below, a consolidation under 149.40 is needed to clear the way for a test of 149.00.

GBP/JPY 4-hour chart

GBP/JPY

Overview
Today last price	151.06
Today Daily Change	0.83
Today Daily Change %	0.55
Today daily open	150.23

Trends
Daily SMA20	150.99
Daily SMA50	150.28
Daily SMA100	145.87
Daily SMA200	141.76

Levels
Previous Daily High	150.39
Previous Daily Low	149.54
Previous Weekly High	151.98
Previous Weekly Low	149.06
Previous Monthly High	152.79
Previous Monthly Low	148.12
Daily Fibonacci 38.2%	150.06
Daily Fibonacci 61.8%	149.87
Daily Pivot Point S1	149.72
Daily Pivot Point S2	149.21
Daily Pivot Point S3	148.87
Daily Pivot Point R1	150.56
Daily Pivot Point R2	150.9
Daily Pivot Point R3	151.41

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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