The GBPJPY currency pair is experiencing fluctuations in its price as the trading week comes to a close.

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• The GBP/JPY sees up-and-down action to cap off the trading week.

The pair currently trades last at 182.131.

The previous day high was 182.43 while the previous day low was 181.06. The daily 38.2% Fib levels comes at 181.91, expected to provide support. Similarly, the daily 61.8% fib level is at 181.58, expected to provide support.

The GBP/JPY is trying to hang onto territory just north of the 182.00 handle, scrambling for a foothold near 182.25 after reaching a Friday peak of 183.00 on UK data beats.

The UK chalked in a forecast-beating print for its Gross Domestic Product (GDP) on Friday. UK GDP came in at an annualized 0.6% for the second quarter, above the expected 0.4%.

The GDP beat gave the Pound Sterling (GBP) a lift to Friday’s high of 183.02, but a reversal in broad-market risk appetite took the Guppy back into an intraday low near 181.90.

The Japanese Tokyo Consumer Price Index (CPI) for September came in under the previous reading, reaffirming a continued slowdown in Japanese inflation. Japan’s Tokyo CPI printed at an annualized 2.8% versus the previous 2.9%. Tokyo Core CPI (inflation excluding food prices) declined faster than expected, printing at 2.5%. Markets forecast a decline to 2.6% versus the previous 2.8%.

Japan’s Unemployment Rate also missed the mark, holding steady at 2.7% and flubbing the market forecast decline to 2.6%.

The GBP/JPY is struggling to keep itself above the 200-hour Simple Moving Average (SMA) currently marked in at the 182.00 handle, and intraday action sees the pair getting hung up on the 34-hour hour Exponential Moving Average (EMA).

Daily candlesticks sees the Guppy hung up between the 34-day EMA and the 100-day SMA at 182.93 and 180.68 respectively.

The pair has seen a slow bleed from August’s peaks near 186.77, but still remains firmly in bullish trend territory with the 200-day SMA far below price action near 172.00.

Technical Levels: Supports and Resistances

GBPJPY currently trading at 182.23 at the time of writing. Pair opened at 182.16 and is trading with a change of 0.04 % .

The pair is trading below its 20 Daily moving average @ 183.18, below its 50 Daily moving average @ 183.33 , above its 100 Daily moving average @ 180.55 and above its 200 Daily moving average @ 171.63

The previous day high was 182.43 while the previous day low was 181.06. The daily 38.2% Fib levels comes at 181.91, expected to provide support. Similarly, the daily 61.8% fib level is at 181.58, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 181.34, 180.52, 179.97
• Pivot resistance is noted at 182.7, 183.25, 184.07

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