GBP/JPY Technical Analysis: Charting another bearish lower-high amid Brexit uncertainty
- The GBP/JPY pair's bounce from the 3.5-month low of 141.18 seems to have ended up carving another bearish lower-high pattern near 142.40.
- That validates yesterday's bearish daily close below 142.77 (Oct. 26 low) and the downward sloping 5- and 10-day simple moving averages (SMAs), which indicate the path of least resistance is to the downside.
- As a result, the pair risks re-testing overnight lows of 142.40.
- The UK PM May's decision to delay the Brexit vote in the face of broad opposition is yet another blow for companies desperate for clarity. As a result, both the British Pound and risky assets will likely remain on the defensive. The latter, in particular, will likely keep the JPY better bid.
Today Last Price: 142.09
Today Daily change: -18 pips
Today Daily change %: -0.127%
Today Daily Open: 142.27
Previous Daily SMA20: 144.81
Previous Daily SMA50: 146.08
Previous Daily SMA100: 145.44
Previous Daily SMA200: 146.82
Previous Daily High: 143.72
Previous Daily Low: 141.18
Previous Weekly High: 145.52
Previous Weekly Low: 142.84
Previous Monthly High: 149.5
Previous Monthly Low: 144.02
Previous Daily Fibonacci 38.2%: 142.15
Previous Daily Fibonacci 61.8%: 142.75
Previous Daily Pivot Point S1: 141.06
Previous Daily Pivot Point S2: 139.85
Previous Daily Pivot Point S3: 138.52
Previous Daily Pivot Point R1: 143.59
Previous Daily Pivot Point R2: 144.92
Previous Daily Pivot Point R3: 146.13