GBP/JPY technical analysis: Pivots around 200-hour SMA, bulls await a move beyond 136.00 handle


  • The GBP/JPY cross continued with its struggle to make it through the 136.00 handle, albeit seemed to form a base near 200-hour SMA.
  • Neutral technical indicators on hourly charts haven't been supportive of any firm intraday direction and thus, warrant caution for traders.

Meanwhile, oscillators on the daily charts maintained their bearish bias and support prospects for a further near-term depreciating move, though bears are likely to wait for a sustained weakness below the key 135.00 psychological mark.

The mentioned handle has been tested twice since the beginning of this month and should now act as a key pivotal point for the pair’s next leg of a directional move trajectory, rather be a key trigger for bearish traders amid rising no-deal Brexit fears.

Alternatively, a sustained break through the 136.00 mark, leading a subsequent strength above weekly tops – around the 136.25-30 region might trigger some short-covering move and lift the cross further towards reclaiming the 137.00 handle.

GBP/JPY 1-hourly chart

GBP/JPY

Overview
Today last price 135.8
Today Daily Change -0.08
Today Daily Change % -0.06
Today daily open 135.88
 
Trends
Daily SMA20 136.24
Daily SMA50 138.4
Daily SMA100 142.18
Daily SMA200 142.88
Levels
Previous Daily High 136.06
Previous Daily Low 135.08
Previous Weekly High 137.8
Previous Weekly Low 135.15
Previous Monthly High 138.33
Previous Monthly Low 135.37
Daily Fibonacci 38.2% 135.68
Daily Fibonacci 61.8% 135.45
Daily Pivot Point S1 135.28
Daily Pivot Point S2 134.69
Daily Pivot Point S3 134.3
Daily Pivot Point R1 136.27
Daily Pivot Point R2 136.66
Daily Pivot Point R3 137.25

 

 

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