GBP/JPY Price Analysis: Rejected above 139.80 for third straight day

GBP/JPY's dialy chart shows buyer fatigue above 139.80.
The pair could drop toward Wednesday's low of 139.00.

Omkar Godbole FXStreet Contributor

GBP/JPY is currently trading largely unchanged on the day near 139.65, having faced rejection at 139.83 early Wednesday.

The pair has failed to keep gains above 1.39.80 for the third straight day.

That, coupled with the bearish divergence of the 14-hour Relative Strength Index (RSI), suggests scope for a drop to immediate support at 139.00 (Wednesday's low).

A violation there would shift the focus to the 5-day Simple Moving Average (SMA) currently at 138.50. On the higher side, the Nov. 11 high of 140.31 is the level to beat for the bulls.

Daily chart

Trend: Bearish

Technical levels

GBP/JPY

Overview
Today last price	139.65
Today Daily Change	-0.17
Today Daily Change %	-0.12
Today daily open	139.83

Trends
Daily SMA20	137.59
Daily SMA50	136.69
Daily SMA100	137.28
Daily SMA200	135.69

Levels
Previous Daily High	139.84
Previous Daily Low	139
Previous Weekly High	138.87
Previous Weekly Low	137.2
Previous Monthly High	137.86
Previous Monthly Low	134.41
Daily Fibonacci 38.2%	139.52
Daily Fibonacci 61.8%	139.32
Daily Pivot Point S1	139.28
Daily Pivot Point S2	138.72
Daily Pivot Point S3	138.44
Daily Pivot Point R1	140.11
Daily Pivot Point R2	140.39
Daily Pivot Point R3	140.95

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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