GBP/JPY sees a slow bleed from 143.00
- Brexit continues to weigh on the Pound, while trade and global growth risks see the Yen maintaining market position.
- January will see the floodgates on Brexit open once again.
GBP/JPY remains stuck within Tuesday's range, hobbling the Guppy just above the 142.00 handle as Brexit angst continues to erode the GBP, while broader market concerns keep investors tied closely to the Yen.
Brexit has once again ground to a halt, but January is promising plenty of action with a parliamentary no-confidence vote in PM Theresa May's government slated for the first half of the month, while May's camp sees their current (and very unpopular) Brexit proposal intentionally delayed until the third week of January, a move that sparked Labor opposition party leader Jeremy Corbyn's decision to call for a no-confidence vote in the first place as PM May and her cronies play keepaway with their EU divorce bill in an effort to leave naysayers no room to maneuver should the plan fail in the UK's House of Commons.
The Guppy has been receding in recent trading days, slumping from a near-term peak of 143.95, but thinning December markets see the pair supported near the 142.00 handle as traders back volume out of the markets for Christmas.
GBP/JPY Technical Levels
Today Last Price: 142.33
Today Daily change: 8.0 pips
Today Daily change %: 0.0562%
Today Daily Open: 142.25
Previous Daily SMA20: 143.93
Previous Daily SMA50: 145.4
Previous Daily SMA100: 145.23
Previous Daily SMA200: 146.69
Previous Daily High: 142.66
Previous Daily Low: 141.93
Previous Weekly High: 143.94
Previous Weekly Low: 141.18
Previous Monthly High: 149.5
Previous Monthly Low: 144.02
Previous Daily Fibonacci 38.2%: 142.38
Previous Daily Fibonacci 61.8%: 142.21
Previous Daily Pivot Point S1: 141.9
Previous Daily Pivot Point S2: 141.55
Previous Daily Pivot Point S3: 141.17
Previous Daily Pivot Point R1: 142.63
Previous Daily Pivot Point R2: 143.01
Previous Daily Pivot Point R3: 143.36