#GBPJPY @ 166.646 The hurdled the 100, 50, and 20-day EMAs on Monday and gained 170 pips. (Pivot Orderbook analysis)
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- The GBP/JPY hurdled the 100, 50, and 20-day EMAs on Monday and gained 170 pips.
- GBP/JPY Price Analysis: Short term, the pair might pull back before resuming the uptrend.
The pair currently trades last at 166.646.
The previous day high was 165.99 while the previous day low was 164.05. The daily 38.2% Fib levels comes at 164.79, expected to provide support. Similarly, the daily 61.8% fib level is at 165.25, expected to provide support.
The GBP/JPY snaps two days of consecutive losses and breaches the 100, 50, and 20-day Exponential Moving Averages (EMAs), rallying more than 170 pips on Monday. In the meantime, the GBP/JPY is trading at 166.68 as the Asian Pacific session begins, registering minuscule losses of 0.07%.
From a daily chart perspective, the GBP/JPY is neutral-upward biased, testing the 20-day EMA at 166.61 after bouncing from daily lows around the 100-day EMA at 164.83. Nevertheless, as the daily EMAs remain almost flat and the Relative Strength Index (RSI) and the Rate of Change (RoC) are practically horizontal, it suggests that the pair might consolidate.
Short term, the GBP/JPY 1-hour chart illustrates the pair as upward biased. Albeit price action is registering successive series of higher highs/lows, the RSI and the ROC are doing the opposite, portraying a negative divergence.
Hence, the GBP/JPY could fall further before resuming its uptrend. Therefore, the GBP/JPY first support would be the daily pivot at 166.15, followed by the S1 pivot level at 165.49. Break below will expose the December 5 low of 164.85.
Technical Levels: Supports and Resistances
GBPJPY currently trading at 166.63 at the time of writing. Pair opened at 164.97 and is trading with a change of 1.01 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 166.63 |
| 1 | Today Daily Change | 1.66 |
| 2 | Today Daily Change % | 1.01 |
| 3 | Today daily open | 164.97 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 166.53, 50 SMA 165.69, 100 SMA @ 164.35 and 200 SMA @ 162.88.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 166.53 |
| 1 | Daily SMA50 | 165.69 |
| 2 | Daily SMA100 | 164.35 |
| 3 | Daily SMA200 | 162.88 |
The previous day high was 165.99 while the previous day low was 164.05. The daily 38.2% Fib levels comes at 164.79, expected to provide support. Similarly, the daily 61.8% fib level is at 165.25, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 164.02, 163.06, 162.07
- Pivot resistance is noted at 165.96, 166.94, 167.9
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 165.99 |
| Previous Daily Low | 164.05 |
| Previous Weekly High | 168.29 |
| Previous Weekly Low | 164.05 |
| Previous Monthly High | 170.95 |
| Previous Monthly Low | 163.06 |
| Daily Fibonacci 38.2% | 164.79 |
| Daily Fibonacci 61.8% | 165.25 |
| Daily Pivot Point S1 | 164.02 |
| Daily Pivot Point S2 | 163.06 |
| Daily Pivot Point S3 | 162.07 |
| Daily Pivot Point R1 | 165.96 |
| Daily Pivot Point R2 | 166.94 |
| Daily Pivot Point R3 | 167.90 |
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