The GBPJPY pair reached a new high for the year at 184.77, indicating that the British pound is strong compared to the Japanese yen as the yen continues to weaken.
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- GBP/JPY pair notched up a new year-to-date high at 184.77, reflecting Sterling’s strength amidst the Yen’s persistent weakness.
The pair currently trades last at 184.636.
The previous day high was 184.25 while the previous day low was 183.42. The daily 38.2% Fib levels comes at 183.93, expected to provide support. Similarly, the daily 61.8% fib level is at 183.73, expected to provide support.
The GBP/JPY extended its uptrend to seven straight days and printed a new year-to-date (YTD) high at 184.77 amid a mixed market sentiment and a soft Japanese Yen (JPY). The GBP/JPY trades at 184.62 as the Asian session begins, printing minuscule gains of 0.03%.
The GBP/JPY is upward biased though it’s at the brisk of a possible intervention by the Bank of Japan (BoJ) or the Japanese Finance Ministry. Japanese authorities could pull the trigger if the Yen continues to post losses against the US Dollar (USD). Still, unless authorities intervene, the GBP/JPY could test the 185.00 figure, followed by the December 2015 high of 186.34.
Conversely, the GBP/JPY first support level would be 184.00. Once cleared, the GBP/JPY could aim toward the August 1 high turned support at 183.25, followed by the Tenkan-Sen at 182.58.
Technical Levels: Supports and Resistances
GBPJPY currently trading at 184.63 at the time of writing. Pair opened at 184.04 and is trading with a change of 0.32 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 184.63 |
| 1 | Today Daily Change | 0.59 |
| 2 | Today Daily Change % | 0.32 |
| 3 | Today daily open | 184.04 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 181.76, 50 SMA 180.86, 100 SMA @ 174.68 and 200 SMA @ 168.61.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 181.76 |
| 1 | Daily SMA50 | 180.86 |
| 2 | Daily SMA100 | 174.68 |
| 3 | Daily SMA200 | 168.61 |
The previous day high was 184.25 while the previous day low was 183.42. The daily 38.2% Fib levels comes at 183.93, expected to provide support. Similarly, the daily 61.8% fib level is at 183.73, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 183.56, 183.07, 182.73
- Pivot resistance is noted at 184.39, 184.73, 185.22
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 184.25 |
| Previous Daily Low | 183.42 |
| Previous Weekly High | 184.25 |
| Previous Weekly Low | 180.58 |
| Previous Monthly High | 184.02 |
| Previous Monthly Low | 176.32 |
| Daily Fibonacci 38.2% | 183.93 |
| Daily Fibonacci 61.8% | 183.73 |
| Daily Pivot Point S1 | 183.56 |
| Daily Pivot Point S2 | 183.07 |
| Daily Pivot Point S3 | 182.73 |
| Daily Pivot Point R1 | 184.39 |
| Daily Pivot Point R2 | 184.73 |
| Daily Pivot Point R3 | 185.22 |
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