The daily chart of GBPJPY at 181.439 indicates a decrease in purchasing pressure and the likelihood of sellers entering the market, although the overall trend is still upwards.
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- The daily chart suggests a fading buying pressure and possible sellers’ entry, even as the GBP/JPY maintains an upward bias.
The pair currently trades last at 181.439.
The previous day high was 182.53 while the previous day low was 179.92. The daily 38.2% Fib levels comes at 181.53, expected to provide resistance. Similarly, the daily 61.8% fib level is at 180.92, expected to provide support.
On Monday, the GBP/JPY faced barricades at around 182.30s and dropped below the 182.00 psychological level amid a risk-on impulse. Still, economic data from the United Kingdom (UK) weakened the Pound Sterling (GBP), which printed losses against most G8 FX currencies. As the Asian session begins, the GBP/JPY is trading at 181.41, posting minuscule gains of 0.02%.
From a daily chart standpoint, the GBP/JPY is upward biased, though a bearish crossover of the Tenkan-Sen below the Kijun-Sen, suggests that buying pressure is fading, and sellers are stepping in. At the same time, the Chikou-Span line at 181.40, is crossing below the price action, another bearish signal. Yet the GBP/JPY is still trending up, as the Ichimoku Cloud (Kumo) remains below price action.
Nevertheless, the GBP/JPY might be subject to a pullback in the near term. In that scenario, the GBP/JPY first support would be the Tenkan-Sen at 181.00. A breach of the latter will expose the June 20 low of 179.92, followed by the July 20 daily low of 179.73, ahead of the June 12 low of 179.46, ahead of diving towards.
For a bullish resumption, the GBP/JPY must claim 182.00. Once done, the next resistance would emerge at the psychological 183.00 area before the year-to-date (YTD) high of 183.90.
Technical Levels: Supports and Resistances
GBPJPY currently trading at 181.44 at the time of writing. Pair opened at 182.25 and is trading with a change of -0.44 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 181.44 |
| 1 | Today Daily Change | -0.81 |
| 2 | Today Daily Change % | -0.44 |
| 3 | Today daily open | 182.25 |
The pair is trading below its 20 Daily moving average @ 182.17, above its 50 Daily moving average @ 178.03 , above its 100 Daily moving average @ 171.65 and above its 200 Daily moving average @ 167.62
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 182.17 |
| 1 | Daily SMA50 | 178.03 |
| 2 | Daily SMA100 | 171.65 |
| 3 | Daily SMA200 | 167.62 |
The previous day high was 182.53 while the previous day low was 179.92. The daily 38.2% Fib levels comes at 181.53, expected to provide resistance. Similarly, the daily 61.8% fib level is at 180.92, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 180.6, 178.95, 177.99
- Pivot resistance is noted at 183.22, 184.18, 185.83
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 182.53 |
| Previous Daily Low | 179.92 |
| Previous Weekly High | 182.53 |
| Previous Weekly Low | 179.74 |
| Previous Monthly High | 183.88 |
| Previous Monthly Low | 172.67 |
| Daily Fibonacci 38.2% | 181.53 |
| Daily Fibonacci 61.8% | 180.92 |
| Daily Pivot Point S1 | 180.60 |
| Daily Pivot Point S2 | 178.95 |
| Daily Pivot Point S3 | 177.99 |
| Daily Pivot Point R1 | 183.22 |
| Daily Pivot Point R2 | 184.18 |
| Daily Pivot Point R3 | 185.83 |
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