GBP/JPY Technical Analysis: Struggles to defend 1-month old ascending trend-channel support
• The cross extended this week's retracement slide from near two-month tops and slipped below one-month-old ascending trend-channel support in reaction to dismal UK manufacturing PMI for January.
• With technical indicators on hourly chart gaining negative momentum, a sustained weakness below 100-hour EMA will confirm a near-term bearish breakdown and pave the way for further weakness.
• Against the backdrop of persistent Brexit uncertainties, the bearish slide has the potential to drag the cross towards challenging the 141.00 handle with some intermediate support near the 141.80-70 region.
GBP/JPY 4-hourly chart
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GBP/JPY
Overview:
Today Last Price: 142.3
Today Daily change %: -0.40%
Today Daily Open: 142.87
Trends:
Daily SMA20: 141.05
Daily SMA50: 141.75
Daily SMA100: 144.35
Daily SMA200: 145.13
Levels:
Previous Daily High: 143.22
Previous Daily Low: 142.25
Previous Weekly High: 144.85
Previous Weekly Low: 140.62
Previous Monthly High: 144.85
Previous Monthly Low: 131.79
Daily Fibonacci 38.2%: 142.85
Daily Fibonacci 61.8%: 142.62
Daily Pivot Point S1: 142.34
Daily Pivot Point S2: 141.81
Daily Pivot Point S3: 141.37
Daily Pivot Point R1: 143.31
Daily Pivot Point R2: 143.75
Daily Pivot Point R3: 144.28