GBP/JPY Technical Analysis: Slip from 143.00 sees Guppy set for a further decline

GBP/JPY stuck near Friday's lows at 142.38, with intraday resistance marked in firmly at the 61.8% Fibo retracement near 143.30; bidders saw the 143.00 handle evaporate on Friday as Sterling's technical outlook continues to weaken.

Joshua Gibson FXStreet

GBP/JPY, 5-Minute

The past two weeks see the Guppy getting wrapped into a constraining pattern ahead of the Christmas holiday slowdown, but a fresh break lower will see new territory as support remains consistently weaker.

GBP/JPY, 30-Minute

GBP/JPY flubbed a bullish break of descending resistance last week, leaving the pairing exposed to another bearish breakdown, as the past two months see the Guppy on pace to tick into fresh three-month lows.

GBP/JPY, 4-Hour

GBP/JPY

Overview:
    Today Last Price: 142.7
    Today Daily change: 4.0 pips
    Today Daily change %: 0.0280%
    Today Daily Open: 142.66
Trends:
    Previous Daily SMA20: 144.15
    Previous Daily SMA50: 145.65
    Previous Daily SMA100: 145.31
    Previous Daily SMA200: 146.74
Levels:
    Previous Daily High: 143.92
    Previous Daily Low: 142.38
    Previous Weekly High: 143.94
    Previous Weekly Low: 141.18
    Previous Monthly High: 149.5
    Previous Monthly Low: 144.02
    Previous Daily Fibonacci 38.2%: 142.97
    Previous Daily Fibonacci 61.8%: 143.33
    Previous Daily Pivot Point S1: 142.05
    Previous Daily Pivot Point S2: 141.45
    Previous Daily Pivot Point S3: 140.51
    Previous Daily Pivot Point R1: 143.59
    Previous Daily Pivot Point R2: 144.53
    Previous Daily Pivot Point R3: 145.13

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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