GBP/JPY Technical Analysis: Remains in an ascendant channel

Volatility across pound’s crosses likely to increase amid Brexit and UK political uncertainty.
The GBP/JPY pair continues to move with a bullish bias within an ascendant channel. The key support today stands around 143.00. A break lower would open the doors to more losses and a potential slide to 142.00.
While above 143.50, the positive tone will prevail. The immediate resistance might be seen at 144.20 and 144.80, ahead of the strong 146.00 barrier.

Matías Salord FXStreet

GBP/JPY 4 hours chart

Price is hovering around the 100-day moving average around 144.40, a daily close well above could signal more gains ahead.

GBP/JPY Daily

GBP/JPY

Overview:
    Today Last Price: 143.71
    Today Daily change: -0.26 pips
    Today Daily change %: -0.18%
    Today Daily Open: 143.97
Trends:
    Daily SMA20: 140.29
    Daily SMA50: 141.86
    Daily SMA100: 144.43
    Daily SMA200: 145.26
Levels:
    Previous Daily High: 144.73
    Previous Daily Low: 143.6
    Previous Weekly High: 144.85
    Previous Weekly Low: 140.62
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Daily Fibonacci 38.2%: 144.03
    Daily Fibonacci 61.8%: 144.3
    Daily Pivot Point S1: 143.47
    Daily Pivot Point S2: 142.97
    Daily Pivot Point S3: 142.34
    Daily Pivot Point R1: 144.6
    Daily Pivot Point R2: 145.23
    Daily Pivot Point R3: 145.73

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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