#GBPJPY @ 167.229 The is upward biased after testing the 20-day EMA during the week, though it struggles at around 168.00. (Pivot Orderbook analysis)
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- The GBP/JPY is upward biased after testing the 20-day EMA during the week, though it struggles at around 168.00.
- Oscillators showed mixed readings, though the RSI indicator aiming to 50 suggests a pullback in the near term.
The pair currently trades last at 167.229.
The previous day high was 167.02 while the previous day low was 165.66. The daily 38.2% Fib levels comes at 166.5, expected to provide support. Similarly, the daily 61.8% fib level is at 166.17, expected to provide support.
The GBP/JPY snaps two days of gains and retreats modestly towards the 167.00 figure as the early stages of the Asian session are witnessed. The GBP/JPY exchange hands at around 167.16, diving 0.16%.
The daily graphic shows that the GBP/JPY remains upward biased, though it encountered a wall of resistance at around the 168.00 mark. Although it has printed back-to-back days of gains, failure to extend its rally past 168.00 keep downside risks looming. In addition, the Relative Strength Index (RSI) indicator continued to aim lower, suggesting that sellers are still hovering.
Meanwhile, the Rate of Change (RoC) shows buyers remain present, though a possible rally remains in play. If GBP/JPY buyers reclaim 168.00, that could exacerbate an upward move to December 13 swing high at 169.27. But first, there are some hurdles on the way north.
Firstly, the YTD is high at 167.97, nearby the 168.00 figure. A breach of the latter will expose the last December cycle high at 169.27.
Conversely, if GBP/JPY falls below 167.00, that would exacerbate a fall initially to the 20-day EMA at 165.85, followed by the latest week low of 165.42, before testing the 50-day EMA at 164.21.
Technical Levels: Supports and Resistances
GBPJPY currently trading at 167.18 at the time of writing. Pair opened at 166.67 and is trading with a change of 0.31 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 167.18 |
| 1 | Today Daily Change | 0.51 |
| 2 | Today Daily Change % | 0.31 |
| 3 | Today daily open | 166.67 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 165.67, 50 SMA 163.6, 100 SMA @ 162.23 and 200 SMA @ 163.31.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 165.67 |
| 1 | Daily SMA50 | 163.60 |
| 2 | Daily SMA100 | 162.23 |
| 3 | Daily SMA200 | 163.31 |
The previous day high was 167.02 while the previous day low was 165.66. The daily 38.2% Fib levels comes at 166.5, expected to provide support. Similarly, the daily 61.8% fib level is at 166.17, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 165.88, 165.09, 164.52
- Pivot resistance is noted at 167.24, 167.81, 168.6
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 167.02 |
| Previous Daily Low | 165.66 |
| Previous Weekly High | 167.98 |
| Previous Weekly Low | 165.52 |
| Previous Monthly High | 165.47 |
| Previous Monthly Low | 158.27 |
| Daily Fibonacci 38.2% | 166.50 |
| Daily Fibonacci 61.8% | 166.17 |
| Daily Pivot Point S1 | 165.88 |
| Daily Pivot Point S2 | 165.09 |
| Daily Pivot Point S3 | 164.52 |
| Daily Pivot Point R1 | 167.24 |
| Daily Pivot Point R2 | 167.81 |
| Daily Pivot Point R3 | 168.60 |
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