#GBPJPY @ 162.218 registers decent gains of almost 0.20% as the Asian session begins. (Pivot Orderbook analysis)

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• GBP/JPY registers decent gains of almost 0.20% as the Asian session begins.
• The GBP/JPY daily chart depicts the pair as neutral-biased, unable to challenge the 160.00-162.80 area.
• Short term, the pair tested the 200-EMA at the H4 chart, in which sellers leaned on, sending the GBP/JPY sliding towards the 162.20s area.

The pair currently trades last at 162.218.

The previous day high was 162.5 while the previous day low was 161.16. The daily 38.2% Fib levels comes at 161.67, expected to provide support. Similarly, the daily 61.8% fib level is at 161.98, expected to provide support.

GBP/JPY is advancing as the Asian session begins, though it remains trading sideways for the twelve-consecutive trading day, inside the 160.00-162.80 range, at the time of writing. The GBP/JPY exchanges hand at 162.18, above its opening price..

The GBP/JPY remains neutral biased. For the last twelve days, the GBP/JPY has been trading within the 160.00-162.80 area, unable to break above/below the range extremes. It’s worth pointing out that the Relative Strength Index (RSI) is below the 50-midline, almost flat, while the 20-day EMA, at 161.84, is the first support level at the time of writing. On the upside, the GBP/JPY first resistance is the confluence of the 50, 100-EMAs, and a downslope trendline around the 162.80-163.00 area, which the pair had been unable to reach since August 17. On the downside, the GBP/JPY’s first support would be the September 5 daily low at 160.66.

Near term, the GBP/JPY four-hour chart illustrates the cross-currency hitting September’s 2 daily high at 162.52 before retracing some pips below the R1 daily pivot at 162.35. GBP/JPY traders should be aware of the 200-day EMA at around 162.46, a difficult resistance level to overcome for GBP/JPY buyers. Once they clear the latter, that would pave the way towards 163.00, opening the door for further gains.

On the other hand, the GBP/JPY first support would be the confluence of the 20, 50, and 100-EMAs at around 161.65-161,80. Once cleared, the GBP/JPY following support would be the daily pivot at 161.50, followed by the S1 daily pivot at 161.04.

Technical Levels: Supports and Resistances

GBPJPY currently trading at 162.18 at the time of writing. Pair opened at 161.39 and is trading with a change of 0.55 % .

The pair is trading above its 20 Daily moving average @ 162.01, below its 50 Daily moving average @ 163.13 , below its 100 Daily moving average @ 163.0 and above its 200 Daily moving average @ 159.32

The previous day high was 162.5 while the previous day low was 161.16. The daily 38.2% Fib levels comes at 161.67, expected to provide support. Similarly, the daily 61.8% fib level is at 161.98, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 160.86, 160.34, 159.52
• Pivot resistance is noted at 162.2, 163.02, 163.54

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