#GBPJPY @ 182.284 gains momentum around 182.15 after the BoJ rate decision.
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- GBP/JPY gains momentum around 182.15 after the BoJ rate decision.
The pair currently trades last at 182.284.
The previous day high was 181.88 while the previous day low was 180.77. The daily 38.2% Fib levels comes at 181.46, expected to provide support. Similarly, the daily 61.8% fib level is at 181.19, expected to provide support.
The GBP/JPY cross surges above the 182.00 mark during the Asian trading hours on Tuesday. The cross picks up bids following the Bank of Japan (BoJ) policy announcements. Investors will shift their focus to the Bank of England (BoE) interest rate decision for fresh impetus. The British central bank is likely to maintain the rate on Thursday. The cross currently trades around 182.15, gaining 0.41% on the day.
On Tuesday, the BoJ decided to keep the interest rate and 10-year Japanese Government Bond (JGB) yield target at -0.1% and 0%, respectively, after its October meeting. However, the central bank decided to make YCC more flexible and changed the language around the 1.0% 10-year JGB yield cap.
On the other hand, the growing worries about a recession in the UK economy could weigh on the British Pound (GBP). That being said, soft labor demand, sluggish business activity, and weak consumer spending are likely to support the BoEo maintain the status quo at its November meeting.
Looking ahead, the attention will turn to the BoE rate decision on Thursday. The BoE officials’ comments might offer hints about the future monetary policy path for the rest of the year. Traders will take more cues from these events and find trading opportunities around the GBP/JPY cross.
Technical Levels: Supports and Resistances
GBPJPY currently trading at 182.16 at the time of writing. Pair opened at 181.42 and is trading with a change of 0.41 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 182.16 |
| 1 | Today Daily Change | 0.74 |
| 2 | Today Daily Change % | 0.41 |
| 3 | Today daily open | 181.42 |
The pair is trading above its 20 Daily moving average @ 182.05, below its 50 Daily moving average @ 182.91 , below its 100 Daily moving average @ 182.56 and above its 200 Daily moving average @ 174.13
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 182.05 |
| 1 | Daily SMA50 | 182.91 |
| 2 | Daily SMA100 | 182.56 |
| 3 | Daily SMA200 | 174.13 |
The previous day high was 181.88 while the previous day low was 180.77. The daily 38.2% Fib levels comes at 181.46, expected to provide support. Similarly, the daily 61.8% fib level is at 181.19, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 180.84, 180.25, 179.73
- Pivot resistance is noted at 181.95, 182.47, 183.06
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 181.88 |
| Previous Daily Low | 180.77 |
| Previous Weekly High | 183.75 |
| Previous Weekly Low | 181.04 |
| Previous Monthly High | 185.78 |
| Previous Monthly Low | 180.82 |
| Daily Fibonacci 38.2% | 181.46 |
| Daily Fibonacci 61.8% | 181.19 |
| Daily Pivot Point S1 | 180.84 |
| Daily Pivot Point S2 | 180.25 |
| Daily Pivot Point S3 | 179.73 |
| Daily Pivot Point R1 | 181.95 |
| Daily Pivot Point R2 | 182.47 |
| Daily Pivot Point R3 | 183.06 |
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