- GBP/JPY halts its bearish momentum, but downside risks remain if it fails to conquer the Tenkan-Sen.
- A ‘tweezers-bottom’ candlestick chart pattern is forming; further upside expected?
- Buyers failure to conquer 186.00, could exacerbate a drop toward the 184.50 area.
GBP/JPY snaps four days of losses, climbs 0.31% in the late Tuesday North American session, and exchanges hands at around 186.00 after bouncing from daily/weekly lows reached at 184.45.
The GBP/JPY daily chart portrays the pair as neutral biased, as the slope of the Tenkan and Kijun-Sen shifted flat, which could open the door for range-bound trading. On the upside, the pair’s first resistance would be the Tenkan-Sen at 186.37, followed by the 187.00 figure, ahead of the year-to-date (YTD) high at 188.24.
On the other hand, if GBP/JPY drops below the Kijun-Sen at 184.52, that would pave the way to test the Senkou Span B at 183.15, followed by the bottom of the Ichimoku Cloud (Kumo) at 181.75.
GBP/JPY Price Analysis – Daily Chart
GBP/JPY Technical Levels
|Today last price||186.01|
|Today Daily Change||0.49|
|Today Daily Change %||0.26|
|Today daily open||185.52|
|Previous Daily High||186.79|
|Previous Daily Low||184.63|
|Previous Weekly High||188.29|
|Previous Weekly Low||185|
|Previous Monthly High||184.33|
|Previous Monthly Low||178.08|
|Daily Fibonacci 38.2%||185.46|
|Daily Fibonacci 61.8%||185.97|
|Daily Pivot Point S1||184.5|
|Daily Pivot Point S2||183.48|
|Daily Pivot Point S3||182.34|
|Daily Pivot Point R1||186.66|
|Daily Pivot Point R2||187.81|
|Daily Pivot Point R3||188.83|
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