- Analytics
- News and Tools
- Market News
- GBP/JPY Price Analysis: Dips below 187.00 as ‘dark-cloud-cover’ emerges
GBP/JPY Price Analysis: Dips below 187.00 as ‘dark-cloud-cover’ emerges
- GBP/JPY drops over 0.50% to 186.32 amid cautious sentiment following Powell's rate cut hints.
- New lower low suggests further possible decline to 185.22, contingent on breaking below current supports.
- Recovery above Tenkan-Sen (186.89) could open path to resistances up to 189.00.
The GBP/JPY finished the North American session in negative territory, down more than 0.50%, after hitting a daily high of 187.61. A risk-off impulse following Federal Reserve Chair Jerome Powell's Sunday interview, in which he emphasized they would likely cut three times and begin to ease policy toward the first half of the year. At the time of writing, the pair exchanges hands at 186.32.
GBP/JPY edged lower on Monday, registering a lower low, which could open the door to test last week’s low of 185.22, but traders must clear the first support level seen at the 186.00 figure. Once cleared, the former would be up next, followed by the Kijun-Sen at 183.83.
Conversely, the pair could resume its uptrend if buyers regained the Tenkan-Sen at 186.89, followed by the 187.00 figure. A breach of the latter will expose the January 19 high at 188.93, followed by the 189.00.
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
