- The GBP/JPY cross stalled its intraday slide and managed to find decent support near a short-term ascending trend-line, extending from monthly lows set on June 4.
- The mentioned support coincides with 100-hour SMA and should now act as a key pivotal point for short-term traders amid absent relevant market-moving UK data.
Meanwhile, technical indicators on hourly charts have already started losing positive momentum and maintained their bearish bias on the daily chart, support prospects for a fresh near-term bearish breakdown.
A convincing breakthrough now seems to accelerate the downfall towards mid-137.00s before the cross eventually slides below the 137.00 round figure mark towards retesting multi-month lows, around the 136.60 region.
On the flip side, the 138.25-30 region now seems to have emerged as an immediate strong resistance, which if cleared decisively might negate the negative outlook and prompt some short-covering move towards the 139.00 handle.
GBP/JPY 1-hourly chart
|Today last price||137.97|
|Today Daily Change||-0.10|
|Today Daily Change %||-0.07|
|Today daily open||138.07|
|Previous Daily High||138.33|
|Previous Daily Low||137.49|
|Previous Weekly High||138.17|
|Previous Weekly Low||136.54|
|Previous Monthly High||146.52|
|Previous Monthly Low||136.63|
|Daily Fibonacci 38.2%||138.01|
|Daily Fibonacci 61.8%||137.81|
|Daily Pivot Point S1||137.6|
|Daily Pivot Point S2||137.12|
|Daily Pivot Point S3||136.76|
|Daily Pivot Point R1||138.44|
|Daily Pivot Point R2||138.8|
|Daily Pivot Point R3||139.28|
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.