#GBPJPY @ 173.446 Despite technical indicators predicting further upside, sees consecutive negative sessions; it currently trades at 173.44. (Pivot Orderbook analysis)
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- Despite technical indicators predicting further upside, GBP/JPY sees consecutive negative sessions; it currently trades at 173.44.
- Potential pullback looms, with immediate support at the Tenkan-Sen line of 173.43 and further at 173.00.
- For bullish continuation, GBP/JPY needs to claim the 174.00 mark.
The pair currently trades last at 173.446.
The previous day high was 174.38 while the previous day low was 172.85. The daily 38.2% Fib levels comes at 173.44, expected to provide support. Similarly, the daily 61.8% fib level is at 173.8, expected to provide resistance.
GBP/JPY registers back-to-back negative sessions, sponsored by risk aversion; though technical indicators suggest further upside, price action means the rally is losing steam. As the Asian session begins, the GBP/JPY trades at 173.44, up a minuscule 0.01%.
The GBP/JPY is upward biased thought; it could be subject to a pullback, as the GBP/JPY is forming a rising wedge. On the downside, prices remain capped by the Tenkan-Sen line at 173.43, which would act as immediate support, but with a decisive break below the latter, the GBP/JPY could dive towards the 173.00 figure. The following support would be the May 2 high at 172.33, followed by the Kijun-Sen line at 171.26.
The GBP/JPY must claim the 174.00 mark for a bullish continuation. A breach of the latter will expose the YTD high at 174.68, with buyers eyeing 2016 high at 177.37.
Technical Levels: Supports and Resistances
GBPJPY currently trading at 173.43 at the time of writing. Pair opened at 173.64 and is trading with a change of -0.12 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 173.43 |
| 1 | Today Daily Change | -0.21 |
| 2 | Today Daily Change % | -0.12 |
| 3 | Today daily open | 173.64 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 171.96, 50 SMA 168.75, 100 SMA @ 164.95 and 200 SMA @ 164.54.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 171.96 |
| 1 | Daily SMA50 | 168.75 |
| 2 | Daily SMA100 | 164.95 |
| 3 | Daily SMA200 | 164.54 |
The previous day high was 174.38 while the previous day low was 172.85. The daily 38.2% Fib levels comes at 173.44, expected to provide support. Similarly, the daily 61.8% fib level is at 173.8, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 172.87, 172.1, 171.35
- Pivot resistance is noted at 174.4, 175.15, 175.93
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 174.38 |
| Previous Daily Low | 172.85 |
| Previous Weekly High | 174.68 |
| Previous Weekly Low | 172.53 |
| Previous Monthly High | 174.28 |
| Previous Monthly Low | 167.84 |
| Daily Fibonacci 38.2% | 173.44 |
| Daily Fibonacci 61.8% | 173.80 |
| Daily Pivot Point S1 | 172.87 |
| Daily Pivot Point S2 | 172.10 |
| Daily Pivot Point S3 | 171.35 |
| Daily Pivot Point R1 | 174.40 |
| Daily Pivot Point R2 | 175.15 |
| Daily Pivot Point R3 | 175.93 |
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