• GBP/JPY remains muted in the Asian session on Monday.
  • Multiple support near 149.20 keeps bulls hopeful.
  • A neutral MACD echoes the wait-and-watch approach before placing any aggressive bets.

The GBP/JPY cross maintained a subdued tone in the Asian session. The cross quickly moved higher after making intraday low near 150.16 only to confide in a narrow trading range. At the time of writing, the GBP/JPY cross-currency pair is trading at 150.43, up 0.02% on the day.

GBP/JPY daily chart

On the daily chart, after testing the high of 155.15 on June 23, the pair has been under persistent selling pressure. The descending trendline from the mentioned level acts as a defensive for the bull. The pair has a record of bouncing back from the 149.20 level in the past three-month. 

Having said that, GBP/JPY consolidates below the 21-day and 50-day Simple Moving Average (SMA) confirming the case for the continuation of the downside momentum. A break of the session’s low could pull off the trigger for the key 150.00 level. A daily close below 150.00, would ask for the 149.60 horizontal support level.

Furthermore, the Moving Average Convergence Divergence (MACD) indicator is placed below  the midline. Any downtick in the MACD would bring the low of September 22 at 149.01 back into action.

Moving higher, prices would meet an interim hurdle at this Friday’s high of 150.95. A close above the 151.00 level could test the 50-day SMA at 151.50 followed by the 152.00 horizontal resistance zone.

GBP/JPY additional levels

GBP/JPY

Overview
Today last price 150.35
Today Daily Change -0.04
Today Daily Change % -0.03
Today daily open 150.39
 
Trends
Daily SMA20 151.1
Daily SMA50 151.5
Daily SMA100 152.6
Daily SMA200 150.15
 
Levels
Previous Daily High 150.74
Previous Daily Low 149.23
Previous Weekly High 152.57
Previous Weekly Low 149.23
Previous Monthly High 152.85
Previous Monthly Low 148.96
Daily Fibonacci 38.2% 150.17
Daily Fibonacci 61.8% 149.81
Daily Pivot Point S1 149.5
Daily Pivot Point S2 148.61
Daily Pivot Point S3 147.99
Daily Pivot Point R1 151.01
Daily Pivot Point R2 151.63
Daily Pivot Point R3 152.52

 


 

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD extends gains above 0.6900 as USD struggles

AUD/USD extends gains above 0.6900 as USD struggles

AUD/USD is extending the recovery above 0.6900, despite a cautious mood in Asia. The US dollar struggles to find demand amid US-China tension over Taiwan and aggressive Fed tightening bets after Friday's US NFP blowout. 

AUD/USD News

EUR/USD: Bears moving in across the timeframes

EUR/USD: Bears moving in across the timeframes

The EUR/USD price on the weekly chart has corrected to a 50% mean reversion of the prior weekly sell-off. Last week's sell-off could be the start of the bearish extension. On the daily chart, the price has left behind a failed inverse head and shoulders.

EUR/USD News

Gold slides towards $1,750 as Fed, Taiwan concerns favor DXY bulls

Gold slides towards $1,750 as Fed, Taiwan concerns favor DXY bulls

Gold price remains pressured near $1,773, down 0.10% intraday, as risk-aversion underpins the US dollar’s safe-haven demand during Monday’s Asian session. Also keeping the greenback buyers hopeful are the recently increased hopes of Fed 0.75% rate hike in September.

Gold News

NZD/USD slips sharply from 0.6260 as RBNZ reports inflation expectations lower at 3.07%

NZD/USD slips sharply from 0.6260 as RBNZ reports inflation expectations lower at 3.07%

NZD/USD has declined to near 0.6240 on lower RBNZ inflation expectations. The RBNZ inflation expectations have declined to 3.07% vs. 3.29% reported earlier. This week, the US Inflation data holds significant importance.

NZD/USD News

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures