GBP/JPY Price Analysis: Pound in 6-week lows, challenges 130.00 figure vs. yen

GBP/JPY is trading in fresh May lows as the sellers remain in control.
The level to beat for bears is the 130.00 figure.

Flavio Tosti Independent Analyst

GBP/JPY four-hour chart

GBP/JPY is trading below the main SMA on the four-hour chart while printing lower lows and lower highs, suggesting bearish momentum as the currency cross is trading in 6-week lows. Bears remain in full control of GBP/JPY and further price weakness can be expected with the spot potentially targetting 130.00, 129.45 and 128.81 price levels. On the flip side, resistance can be seen near the 130.80, 131.46 and 132.29 levels.

Resistance: 130.80, 131.46, 132.29

Support: 130.00, 129.45, 128.81

Additional key levels

GBP/JPY

Overview
Today last price	130.22
Today Daily Change	-0.94
Today Daily Change %	-0.72
Today daily open	131.16

Trends
Daily SMA20	132.67
Daily SMA50	132.79
Daily SMA100	137.59
Daily SMA200	137.12

Levels
Previous Daily High	131.31
Previous Daily Low	130.15
Previous Weekly High	133.56
Previous Weekly Low	130.66
Previous Monthly High	135.75
Previous Monthly Low	131.91
Daily Fibonacci 38.2%	130.86
Daily Fibonacci 61.8%	130.59
Daily Pivot Point S1	130.43
Daily Pivot Point S2	129.71
Daily Pivot Point S3	129.27
Daily Pivot Point R1	131.59
Daily Pivot Point R2	132.03
Daily Pivot Point R3	132.76

Author

Flavio Tosti

Independent Analyst

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