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


Today last price 135.8
Today Daily Change -0.08
Today Daily Change % -0.06
Today daily open 135.88
Daily SMA20 136.24
Daily SMA50 138.4
Daily SMA100 142.18
Daily SMA200 142.88
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



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: Stuck in a range, the odds of an aggressive Fed rate cut drop

EUR/USD continues to trade a narrow range amid falling odds of an aggressive easing by the US Federal Reserve (Fed) later this month. The ECB is widely expected to keep rates unchanged, but send out a strong dovish message later this week


GBP/USD remains modestly flat as Brexit optimism confronts UK-Iran tension

While optimism surrounding the Brexit helped the GBP/USD pair to start the week on a positive note, geopolitical tensions between the UK and Iran tamed the quote’s upside as it trades near 1.2500 ahead of the London open. 


USD/JPY consolidates gains below 108.00 amid risk-off in Asian equities

Having failed to sustain the early gains above the 108 handle, USD/JPY consolidates in a tight range just below the last amid risk-off action in the Asian equities and Abe's victory. Escalating Gulf tensions and a likely smaller Fed rate cut weigh down on the sentiment. 


Gold: Bounces off 23.6% Fibo. towards $1436.50/37 supply zone

Gold is again being bought as it reverses from 23.6% Fibonacci retracement of June-July advances to $1,427 by early Monday. The yellow metal now runs towards $1,436.50/37 horizontal resistance comprising early-month tops.

Gold News

Weekly outlook: UK parliament, ECB meeting, germany and US data

The result of conservative party’s election of UK parliament will have been announced by Tuesday night. Boris Johnson is expected to be the new PM. The European central bank meeting on Thursday. The interest rate is expected to maintain at zero percent.

Read more