GBP/JPY Technical Analysis: 146.30 continues to be near-term important resistance

GBP/JPY is on the bids near 146.20 during early Wednesday. The pair recently took a U-turn from 145.95 but is yet to clear a downward sloping trend-line stretched since April 15 that limit the upside around 146.30. Additionally, a horizontal-line connecting low marked on April 12 and 15 also highlights the importance of 146.30 figure.

In a case prices rise above 146.30, 146.75, 147.00 and recent highs around 147.20 could entertain buyers.

Should there be additional upside momentum past-147.20, 148.10 and March month high near 148.90 could become bulls’ favorites.

Given the quote continues to trade beneath 146.30, 146.00 and 145.60 could appear on the chart whereas an ascending trend-line from March 29, at 145.40, might challenge sellers then after.

During the pair’s decline under 145.40, 144.80 and 144.00 could prove their worth as supports.

GBP/JPY hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 146.27
Today Daily Change 11 pips
Today Daily Change % 0.08
Today daily open 146.16
 
Trends
Daily SMA20 145.69
Daily SMA50 145.43
Daily SMA100 143.53
Daily SMA200 144.63
Levels
Previous Daily High 146.84
Previous Daily Low 146.01
Previous Weekly High 147.02
Previous Weekly Low 144.77
Previous Monthly High 148.88
Previous Monthly Low 143.72
Daily Fibonacci 38.2% 146.32
Daily Fibonacci 61.8% 146.52
Daily Pivot Point S1 145.84
Daily Pivot Point S2 145.51
Daily Pivot Point S3 145.01
Daily Pivot Point R1 146.66
Daily Pivot Point R2 147.16
Daily Pivot Point R3 147.49

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Bid in holiday-thinned trade, bullish channel breakdown confirmed

EUR/USD is mildly bid in Asia, but the gains could be short-lived, as yesterday’s sell-off seems to have put sellers in commanding position for the near term. 

EUR/USD News

GBP/USD: On the defensive despite strong UK retail sales

The path of least resistance for the GBP/USD appears to be on the downside. The British Pound slipped below 1.30 and closed under the April 5 low of 1.2987 yesterday.

GBP/USD News

USD/JPY: No reaction to BOJ’s decision to cut its routine buying of long-dated bonds

USD/JPY pair is currently trading at 111.93, having clocked a 112.00 earlier today. The Bank of Japan (BOJ) cut its purchases of bonds with maturities between 10 and 25 years to ¥160 billion, down ¥20 billion from the previous ¥180 billion. 

USD/JPY News

The Tale of the Prosperous Consumer-US Retail Sales

American consumers asserted the right to spend in a grand fashion in March boosting retail sales to the fastest expansion in 18 months as the booming job market put the shutdown marked holiday season to rest.

Read more

Gold Technical Analysis: Eyes corrective bounce on bullish 4H RSI divergence

Gold snapped its five-day winning streak with a 0.19 percent gain on Thursday, confirming a bullish divergence of the relative strength index on the 4-hour and hourly charts. 

Gold News

Majors

Cryptocurrencies

Signatures