- The cross showed some resilience below 100-hour EMA and for the second straight session managed to find decent support near the 140.70-60 horizontal zone.
- Slightly better-than-expected UK wage growth data and an unexpected downtick in the UK unemployment rate provided a minor lift to the British Pound.
- Technical indicators on the 1-hourly chart regained positive traction and continue to hold in the bullish territory on 4-hourly/daily charts, supporting bullish bias.
- A follow-through up-move beyond the overnight swing high, around mid-141.00, will reinforce the constructive set-up and pave the way for additional intraday gains.
- However, a convincing break below the mentioned support might negate the positive outlook and prompt some aggressive long-unwinding trade amid Brexit uncertainties.
GBP/JPY 1-hourly chart
Overview:
Today Last Price: 141.17
Today Daily change: -0.25 pips
Today Daily change %: -0.18%
Today Daily Open: 141.42
Trends:
Daily SMA20: 139.47
Daily SMA50: 142.11
Daily SMA100: 144.45
Daily SMA200: 145.48
Levels:
Previous Daily High: 141.54
Previous Daily Low: 140.69
Previous Weekly High: 142.22
Previous Weekly Low: 137.36
Previous Monthly High: 145.52
Previous Monthly Low: 138.86
Daily Fibonacci 38.2%: 141.21
Daily Fibonacci 61.8%: 141.01
Daily Pivot Point S1: 140.89
Daily Pivot Point S2: 140.37
Daily Pivot Point S3: 140.04
Daily Pivot Point R1: 141.75
Daily Pivot Point R2: 142.07
Daily Pivot Point R3: 142.6
Source: https://www.fxstreet.com/news/gbp-jpy-t ... 1901220945
