GBP/JPY Price Analysis: looking for a push to reclaim 186.00

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  • The GBP/JPY is seeing some pullback after failing to capture the 186.00 price level.
  • The Pound Sterling remains incredibly well-bid against the Yen, up nearly 2.5% in six trading days.
  • Bullish runs fueled by Yen weakness are sending the Guppy into ten-week highs.

The GBP/JPY is seeing a mild relief pullback towards the 185.00 price level after last week's runup in the pair sent the Guppy just shy of the 186.00 handle.

Monday's pullback sees the pair testing back towards the 50-hour Simple Moving Average (SMA) currently rising into 184.60. Intraday price action is getting snarled on the 21-hour Exponential Moving Average (EMA), and the near-term drop is set for a challenge of support from last Friday's late test into 185.00.

Daily candlesticks see the GBP/JPY continuing a top side break of a sideways pennant flag, and extension will see technical resistance challenges from August's late swing into chart territory just south of the 187.00 handle.

GBP/JPY Hourly Chart

GBP/JPY Daily Chart

GBP/JPY Technical Levels

GBP/JPY

Overview
Today last price 185.16
Today Daily Change 0.30
Today Daily Change % 0.16
Today daily open 184.86
 
Trends
Daily SMA20 182.62
Daily SMA50 182.88
Daily SMA100 182.77
Daily SMA200 174.59
 
Levels
Previous Daily High 185.02
Previous Daily Low 183.23
Previous Weekly High 185.02
Previous Weekly Low 180.77
Previous Monthly High 184.33
Previous Monthly Low 178.08
Daily Fibonacci 38.2% 184.34
Daily Fibonacci 61.8% 183.91
Daily Pivot Point S1 183.72
Daily Pivot Point S2 182.58
Daily Pivot Point S3 181.93
Daily Pivot Point R1 185.51
Daily Pivot Point R2 186.16
Daily Pivot Point R3 187.3

 

 

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