GBP/JPY Price Analysis: Remains subdued below 185.00, on risk-off mood

GBP/JPY sees a decline of 0.24%, as Yen is boosted following Fed Chair Powell's hawkish remarks.
The daily chart portrays the pair as neutral, tilted to the upside, with the Kumo below price action.
Key support levels loom below, with the Tenkan-Sen at 183.62 and the Kijun-Sen at 183.36, while a rebound above 186.00 could reignite bullish momentum.

Christian Borjon Valencia FXStreet

The GBP/JPY failed to gain traction on Thursday, posting losses of 0.24% amid hawkish comments from the US Federal Reserve Chair Jerome Powell on an International Monetary Fund (IMF) event. Hence, the safe-haven status of the Japanese Yen (JPY) benefitted, a headwind for the Pound Sterling (GBP). At the time of writing, the cross-pair is trading at 184.97 after hitting a daily high of 185.89.

The pair is neutral but slightly tilted to the upside due to price action remaining above the Ichimoku Cloud (Kumo). A narrow width of the Kumo, along with price action failing to register a successive series of higher lows and higher highs, indicate the cross might be subject for a pullback.

Despite that, if GBP/JPY buyers reclaim 186.00, that could open the door for challenging the year-to-date (YTD) high at 186.76. On the other hand, a drop below 184.00, key support levels would emerge.

The first support would be the Tenkan-Sen at183.62, followed by the Senkou-Span A at 183.49, followed by the Kijun-Sen at 183.36. Once those levels are cleared, the 183.00 psychological figure would be up next

GBP/JPY Price Analysis – Daily Chart

GBP/JPY Technical Levels

GBP/JPY

Overview
Today last price	184.99
Today Daily Change	-0.57
Today Daily Change %	-0.31
Today daily open	185.56

Trends
Daily SMA20	183
Daily SMA50	182.89
Daily SMA100	182.89
Daily SMA200	174.96

Levels
Previous Daily High	185.67
Previous Daily Low	184.55
Previous Weekly High	185.02
Previous Weekly Low	180.77
Previous Monthly High	184.33
Previous Monthly Low	178.08
Daily Fibonacci 38.2%	185.25
Daily Fibonacci 61.8%	184.98
Daily Pivot Point S1	184.85
Daily Pivot Point S2	184.14
Daily Pivot Point S3	183.72
Daily Pivot Point R1	185.97
Daily Pivot Point R2	186.38
Daily Pivot Point R3	187.09

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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