US Dollar Closes Its Second Straight Winning Week As Markets Prepare For PCE Data

The GBP/JPY retreats deeper below the 190.00 figure after hitting a 9-year high of 193.55, as buyers fail to push through the latter and aim toward the 194.00 mark. At the time of writing, the pair traded at 190.69, down 0.61%.

 

GBP/JPY Price Analysis: Technical outlook

Despite falling, the GBP/JPY remains upward biased despite posting losses. The confluence of the Tenkan and Kijun-Sen at 190.75 capped the pair’s slide, but downside risks remain. If sellers push the exchange rate below the latter, the pair could aim for 190.00. Further losses are seen below that level, as the 189.00 psychological figure would be up next.

However, the path of least resistance is upwards, and if they reclaim the 191.00 figure, look for further gains. The next resistance would be today’s high at 192.23, followed by the 193.00 mark.

 

GBP/JPY Price Action – Daily Chart

(Click on image to enlarge)

 

GBP/JPY

OVERVIEW
Today last price 190.72
Today Daily Change -1.25
Today Daily Change % -0.65
Today daily open 191.97

 

TRENDS
Daily SMA20 190.28
Daily SMA50 188.85
Daily SMA100 186.43
Daily SMA200 184.59

 

LEVELS
Previous Daily High 193.51
Previous Daily Low 191.85
Previous Weekly High 190.03
Previous Weekly Low 187.96
Previous Monthly High 191.33
Previous Monthly Low 185.23
Daily Fibonacci 38.2% 192.48
Daily Fibonacci 61.8% 192.87
Daily Pivot Point S1 191.38
Daily Pivot Point S2 190.78
Daily Pivot Point S3 189.71
Daily Pivot Point R1 193.04
Daily Pivot Point R2 194.1
Daily Pivot Point R3 194.7

More By This Author:

AUD/JPY Price Analysis: Bearish Pressure Intensifies, Sellers Eye The 20-Day SMA
USD/CHF Price Forecast: First Breakout Target Met
EUR/JPY Price Analysis: Bearish Divergence Hints At Further Weakness

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.