GBP/JPY Price Analysis: Rallies for five-straight days climb above 195.00

GBP/JPY up 0.26% on Friday, totaling a 1.74% weekly gain, now at 195.10.
Technicals show upward trend, rebounding from 50-day MA at 193.50.
Resistance at Kijun-Sen (195.26); breaking this could push towards 196.00 and April 26 high of 197.92.

Christian Borjon Valencia FXStreet

The Pound Sterling (GBP) will finish the week on a higher note against the Japanese Yen (JPY), posting gains of more than 0.26% on Friday and 1.74% weekly. At the time of writing, the GBP/JPY exchanges hands at 195.10, testing key resistance levels.

GBP/JPY Price Analysis: Technical outlook

The GBP/JPY is upward biased after recovering from the Bank of Japan intervention during the last week. Since then, the pair bottomed out at around the 50-day moving average (DMA) at around 193.50 and recovered some ground.

Even though the uptrend remains intact, the GBP/JPY faces key resistance at the Kijun-Sen at 195.26. A breach of the latter will expose the 196.00 psychological level, followed by the April 26 high at 197.92.

On the other hand, if the cross-pair falls below the Senkou Span A of 194.82, that could open the door to challenge the Senkou Span B at 194.24. Further losses are seen at 194.00.

GBP/JPY Price Action – Daily Chart

GBP/JPY

Overview
Today last price	195.11
Today Daily Change	0.37
Today Daily Change %	0.19
Today daily open	194.74

Trends
Daily SMA20	193.45
Daily SMA50	191.87
Daily SMA100	189.14
Daily SMA200	186.45

Levels
Previous Daily High	194.86
Previous Daily Low	193.84
Previous Weekly High	200.59
Previous Weekly Low	191.37
Previous Monthly High	200.59
Previous Monthly Low	190
Daily Fibonacci 38.2%	194.47
Daily Fibonacci 61.8%	194.23
Daily Pivot Point S1	194.1
Daily Pivot Point S2	193.45
Daily Pivot Point S3	193.07
Daily Pivot Point R1	195.12
Daily Pivot Point R2	195.51
Daily Pivot Point R3	196.15

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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