GBP/JPY eases to 149.53, following a bounce off a two-month low, during Thursday’s Asian session. In doing so, the cross-currency pair keeps the early week's breakdown of the 200-DMA and an ascending trend line from July.

Given the bearish MACD and failures to cross the previous key supports during Wednesday’s corrective pullback, the pair sellers are likely to keep controls unless the Bank of England (BOE) surprises the markets.

That said, the latest low of 148.95, also the lowest in two months, lures intraday sellers but any further weakness will be questioned by an area stretched from March, near 148.55-45.

It’s worth noting that August month’s bottom near 149.20 offers immediate support while the December 2019 peak of 147.95 can lure GBP/JPY bears past 148.45.

Meanwhile, 200-DMA and the support-turned-resistance near can challenge the pair buyers below 149.90. To confirm the upside, traders may wait for a clear break of the 150.00 threshold.

Following that, the mid-September low near 150.80 and the monthly peak of 152.85 will be important levels to watch.

GBP/JPY: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 149.57
Today Daily Change 0.34
Today Daily Change % 0.23%
Today daily open 149.23
 
Trends
Daily SMA20 151.38
Daily SMA50 151.57
Daily SMA100 152.78
Daily SMA200 149.71
 
Levels
Previous Daily High 150.14
Previous Daily Low 148.96
Previous Weekly High 152.85
Previous Weekly Low 150.84
Previous Monthly High 153.32
Previous Monthly Low 149.19
Daily Fibonacci 38.2% 149.41
Daily Fibonacci 61.8% 149.69
Daily Pivot Point S1 148.74
Daily Pivot Point S2 148.26
Daily Pivot Point S3 147.56
Daily Pivot Point R1 149.93
Daily Pivot Point R2 150.62
Daily Pivot Point R3 151.11

 

 

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