GBP/JPY Technical Analysis: Eyes three-month lows on bearish setup
The GBP/JPY pair risks falling to three-month lows below the Oct. 26 low of 142.77, having established a bearish lower high and lower low pattern yesterday with a convincing break below the Nov. 21 low of 144.00.
Daily chart
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- Yesterday's bearish close below 144.00 is backed by the descending 5- and 10-day simple moving averages.
- The band of Fib EMAs (8, 13, 21, 34, 55) is also trendline lower in favor of the bears and the 14-day relative strength index (RSI) of 39.00 is signaling scope for a deeper drop.
- The bearish outlook would be invalidated if pair closes above the descending (bearish) 10-day SMA of 144.73.
Trend: Bearish
GBP/JPY
Overview:
Today Last Price: 143.39
Today Daily change: -4.0 pips
Today Daily change %: -0.0279%
Today Daily Open: 143.43
Trends:
Previous Daily SMA20: 145.7
Previous Daily SMA50: 146.47
Previous Daily SMA100: 145.56
Previous Daily SMA200: 146.91
Levels:
Previous Daily High: 144.77
Previous Daily Low: 142.84
Previous Weekly High: 145.84
Previous Weekly Low: 144.52
Previous Monthly High: 149.5
Previous Monthly Low: 144.02
Previous Daily Fibonacci 38.2%: 143.58
Previous Daily Fibonacci 61.8%: 144.03
Previous Daily Pivot Point S1: 142.59
Previous Daily Pivot Point S2: 141.75
Previous Daily Pivot Point S3: 140.67
Previous Daily Pivot Point R1: 144.52
Previous Daily Pivot Point R2: 145.6
Previous Daily Pivot Point R3: 146.44