GBP/JPY Price Analysis: Retreats from 14-month highs

Omkar Godbole FXStreet Contributor

GBP/JPY is trading near 147.47 at press time, having printed a high of 147.71 on Thursday. That level was last seen in December 2019.

The pullback could be extended further, as the 4-hour chart shows a bearish divergence of the Relative Strength Index, a sign of weakening of upward momentum.

Support is seen at 147.11 (50-hour Simple Moving Average). Meanwhile, Thursday's high of 147.71 is the level to beat for the bulls. A violation there would expose 147.95 (December 2017 high(.

4-hour chart

Trend: Pullback likely

Technical levels

GBP/JPY

Overview
Today last price	147.47
Today Daily Change	-0.15
Today Daily Change %	-0.10
Today daily open	147.66

Trends
Daily SMA20	144.33
Daily SMA50	141.94
Daily SMA100	139.79
Daily SMA200	137.89

Levels
Previous Daily High	147.79
Previous Daily Low	146.55
Previous Weekly High	145.48
Previous Weekly Low	144.04
Previous Monthly High	143.96
Previous Monthly Low	139.51
Daily Fibonacci 38.2%	147.32
Daily Fibonacci 61.8%	147.03
Daily Pivot Point S1	146.87
Daily Pivot Point S2	146.09
Daily Pivot Point S3	145.63
Daily Pivot Point R1	148.12
Daily Pivot Point R2	148.57
Daily Pivot Point R3	149.36

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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