GBP/JPY Technical Analysis: Taking a run at 148.00

The GBP/JPY is teasing a break into the 148.00 technical level in early Tuesday's action, lifting from the day's opening bids near 147.60 as the pair continues to find support from the 50-period moving average, currently resting near 147.80.

Joshua Gibson FXStreet

GBP/JPY M5

Hourly candles have the Guppy overextended with 1-Hour indicators pinned near overbought conditions, but the pair is showing little signs of slowing as the GBP/JPY heads further north from the 200-hour moving average at 145.00.

GBP/JPY H1

The past eight weeks shows the GBP/JPY grinding steadily higher to return to September's previous consolidation zone, and continued buying will see resistance from familiar levels near the upper bound at the 149.00 handle.

GBP/JPY H4

GBP/JPY

Overview:
    Last Price: 147.96
    Daily change: 32 pips
    Daily change: 0.217%
    Daily Open: 147.64
Trends:
    Daily SMA20: 146.3
    Daily SMA50: 146.38
    Daily SMA100: 145.69
    Daily SMA200: 147.51
Levels:
    Daily High: 147.82
    Daily Low: 146.86
    Weekly High: 147.26
    Weekly Low: 143.22
    Monthly High: 149.52
    Monthly Low: 142.78
    Daily Fibonacci 38.2%: 147.45
    Daily Fibonacci 61.8%: 147.22
    Daily Pivot Point S1: 147.06
    Daily Pivot Point S2: 146.48
    Daily Pivot Point S3: 146.1
    Daily Pivot Point R1: 148.01
    Daily Pivot Point R2: 148.39
    Daily Pivot Point R3: 148.97

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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