GBP/JPY Technical Analysis: Resistance forming up from 149.20

  • The GBP/JPY is seeing an intraday topping pattern form from 149.20 as the GBP struggles to maintain its recent bullish stance against the safe-haven Yen, but a rough rising channel could see the GBP/JPY survive any downside shocks heading into the latter end of the week.


  • Hourly candles have the Guppy rising smoothly, pulling itself upwards from a clean bullish cross of the 200-hour moving average from 144.80 last week, and the 50-hour moving average is providing hefty support from 148.50.


  • Although the Guppy has enjoyed a tidy bullish channel, the shortside looms ahead as the pair runs into firm resistance from beneath the 150.00 major handle that formed up over the past two months, a level that the GBP/JPY has struggled to reclaim since May of this year.



    Last Price: 149.09
    Daily change: -4.0 pips
    Daily change: -0.0268%
    Daily Open: 149.13
    Daily SMA20: 146.35
    Daily SMA50: 146.56
    Daily SMA100: 145.76
    Daily SMA200: 147.46
    Daily High: 149.24
    Daily Low: 148.34
    Weekly High: 147.26
    Weekly Low: 143.22
    Monthly High: 149.52
    Monthly Low: 142.78
    Daily Fibonacci 38.2%: 148.89
    Daily Fibonacci 61.8%: 148.68
    Daily Pivot Point S1: 148.57
    Daily Pivot Point S2: 148
    Daily Pivot Point S3: 147.67
    Daily Pivot Point R1: 149.47
    Daily Pivot Point R2: 149.8
    Daily Pivot Point R3: 150.37


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