GBP/JPY Technical Analysis: Intraday positive momentum stalls near 200-DMA
• The cross built on overnight rebound from near one-month lows and got an additional boost from stronger UK average weekly earnings growth data.
• The cross momentarily spiked above the 148.00 handle but struggled to build on the momentum further beyond the very important 200-day SMA.
• Meanwhile, technical indicators on 1-hourly/daily charts hold in positive territory and support prospects for an extension of the positive momentum.
• Given yesterday's bearish break through a four-week-old trading range, it would be prudent to wait for a sustained move beyond the mentioned barrier before positioning for any further up-move.
GBP/JPY daily chart
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GBP/JPY
Overview:
Last Price: 147.93
Daily change: 93 pips
Daily change: 0.633%
Daily Open: 147
Trends:
Daily SMA20: 148.16
Daily SMA50: 145.27
Daily SMA100: 145.8
Daily SMA200: 148.07
Levels:
Daily High: 147.44
Daily Low: 146.51
Weekly High: 149.52
Weekly Low: 147.17
Monthly High: 149.72
Monthly Low: 146.32
Daily Fibonacci 38.2%: 147.08
Daily Fibonacci 61.8%: 146.86
Daily Pivot Point S1: 146.53
Daily Pivot Point S2: 146.06
Daily Pivot Point S3: 145.61
Daily Pivot Point R1: 147.46
Daily Pivot Point R2: 147.91
Daily Pivot Point R3: 148.38