- Analytics
- News and Tools
- Market News
- GBP/JPY Price Analysis: Retreats from two-month highs, drops below 185.00
GBP/JPY Price Analysis: Retreats from two-month highs, drops below 185.00
- GBP/JPY has retreated from a two-month peak of 185.95, now trading around 184.92, as the market's risk-on mood tempers the pair's recent rally.
- A decisive move above the 186.00 level could set the stage for a test of the YTD high at 186.76.
- On the downside, a drop below 184.00 could lead to a deeper correction, with supports seen at 183.36, 183.06, and the Kijun-Sen at 182.76.
GBP/JPY suffered a minimal dip on Tuesday after hitting a fresh two-month high at 185.95 and exchanging hands at 184.92, with buyers surrendering the 185.00 figure amid a risk-on impulse.
The pair is neutral to slightly upward biased after the pair broke above the latest cycle high reached in October 31 at 184.29, which opened the door for further upside. If the cross-pair reclaims the 186.00 figure, that can open the door to challenge the year-to-date (YTD) high at 186.76.
However, if GBP/JPY drops below 184.00, that could exacerbate further losses, with key support levels in play. The first support would be the Tenkan-Sen at 183.36, followed by the Senkou-Span A at 183.06. A breach of the latter would expose the Kijun-Sen at 182.76, followed by the top of the Ichimoku Cloud (Kumo) at 181.66.
GBP/JPY Price Action – Daily Chart
GBP/JPY Technical Levels
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
