GBP/JPY Price Analysis: Pound pops and falters near 131.00 figure, bearish

GBP/JPY starts the week with a modest pop to the 131.00 figure.
The level to beat for sellers is the 130.00 figure.

Flavio Tosti Independent Analyst

GBP/JPY four-hour chart

GBP/JPY is trading below its main SMA on the four-hour chart while making lower lows and lower highs, suggesting negative momentum as the currency cross is trading off 6-week lows. Sellers remain in full control and further price declines are to be expected with the spot likely targetting 130.00, 129.45 and 128.81 price levels to the downside. On the flip side, the recent pop found strong resistance near the 130.80 level. Further up lie the 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	130.81
Today Daily Change	1.13
Today Daily Change %	0.87
Today daily open	129.68

Trends
Daily SMA20	132.44
Daily SMA50	132.64
Daily SMA100	137.46
Daily SMA200	137.14

Levels
Previous Daily High	131.42
Previous Daily Low	129.54
Previous Weekly High	133.19
Previous Weekly Low	129.54
Previous Monthly High	135.75
Previous Monthly Low	131.91
Daily Fibonacci 38.2%	130.26
Daily Fibonacci 61.8%	130.7
Daily Pivot Point S1	129.01
Daily Pivot Point S2	128.34
Daily Pivot Point S3	127.13
Daily Pivot Point R1	130.89
Daily Pivot Point R2	132.1
Daily Pivot Point R3	132.77

Author

Flavio Tosti

Independent Analyst

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