GBP/JPY stuck cycling in the 138.00 zone as market sentiment awaits trade talks

Guppy trading into the high end as market sentiment builds on trade talks hope.
Brexit remains a key cloud over the Sterling, pending the UK's next parliamentary vote on agreement.

Joshua Gibson FXStreet

GBP/JPY has stabilized near 138.50, trading in the middle heading into the mid-week as market sentiment hangs in the balance.

Broader markets are awaiting results and announcements from US-China vice-minister-level trade talks, which are extending into a third straight day this week, as investors pin their hopes on improved trade conditions between the two countries to help blow off some of the current pressure built into market sentiment thanks to trade war rhetoric.

Brexit continues to hang off of the Sterling like a dead weight, but divorce proceedings have ground to a standstill pending a parliamentary vote for the UK's current divorce bill, but broader risk appetite remains on the upside, sending the GBP steadily higher against the safe haven Yen in the run-up to results from major trade talks.

GBP/JPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 138.58
    Today Daily change: 23 pips
    Today Daily change %: 0.166%
    Today Daily Open: 138.35
Trends:
    Previous Daily SMA20: 140.37
    Previous Daily SMA50: 143.42
    Previous Daily SMA100: 144.76
    Previous Daily SMA200: 145.99
Levels:
    Previous Daily High: 139.45
    Previous Daily Low: 137.98
    Previous Weekly High: 140.89
    Previous Weekly Low: 131.79
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Previous Daily Fibonacci 38.2%: 138.54
    Previous Daily Fibonacci 61.8%: 138.89
    Previous Daily Pivot Point S1: 137.74
    Previous Daily Pivot Point S2: 137.12
    Previous Daily Pivot Point S3: 136.27
    Previous Daily Pivot Point R1: 139.21
    Previous Daily Pivot Point R2: 140.06
    Previous Daily Pivot Point R3: 140.68

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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