GBP/JPY reaching for 142.00 in low-momentum bullish bounce

The Guppy is seeing limited bounceback into 142.00 after slipping to a new three-month low.
A delayed Brexit vote is doing the Sterling little favours.

Joshua Gibson FXStreet

GBP/JPY is catching some mild lift in the early Asian trading session, in play just shy of the 142.00 major handle. This trading week has seen the Guppy accelerate movement to the bearish side, steepening a dropaway from the 200-period moving average, and this week's bottom at 141.17 sees a new three-and-a-half month low for the Guppy.

With Tuesday's Brexit vote canceled at the last minute, Sterling investors will now be keeping an eye out for headlines surrounding a no-confidence vote in Prime Minister Theresa May, and Wednesday sees UK economic data taking the day off after yesterday's better than expected earnings call, which still failed to spur the GBP into higher territory as market fundamentals continue to weigh.

GBPJPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 141.92
    Today Daily change: 23 pips
    Today Daily change %: 0.162%
    Today Daily Open: 141.69
Trends:
    Previous Daily SMA20: 144.53
    Previous Daily SMA50: 145.96
    Previous Daily SMA100: 145.39
    Previous Daily SMA200: 146.8
Levels:
    Previous Daily High: 142.95
    Previous Daily Low: 141.53
    Previous Weekly High: 145.52
    Previous Weekly Low: 142.84
    Previous Monthly High: 149.5
    Previous Monthly Low: 144.02
    Previous Daily Fibonacci 38.2%: 142.07
    Previous Daily Fibonacci 61.8%: 142.41
    Previous Daily Pivot Point S1: 141.17
    Previous Daily Pivot Point S2: 140.64
    Previous Daily Pivot Point S3: 139.75
    Previous Daily Pivot Point R1: 142.58
    Previous Daily Pivot Point R2: 143.47
    Previous Daily Pivot Point R3: 143.99

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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