GBP/JPY Price Analysis: Upside move awaits bullish cross breakout near 150.50

  • 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


Today last price 150.35
Today Daily Change -0.04
Today Daily Change % -0.03
Today daily open 150.39
Daily SMA20 151.1
Daily SMA50 151.5
Daily SMA100 152.6
Daily SMA200 150.15
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



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