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GBP/JPY reclaims 139.00 in Tuesday risk-on bid

  • Tuesday opens notably risk-on, but Brexit angst keeping the GBP soft.
  • Markets bracing for announcements from US-China trade talks, hoping for progress.

GBP/JPY continues to tick higher, tapping the 139.00 minor handle in early Tuesday trading as broader risk appetite catches a bid on hopes that US-China trade talks will produce viable results, though Brexit concerns continue to plague the Sterling, limiting near-term gains.

The Japanese Yen is bedding down across the board as investors step into 2019 attempting to wrestle risk aversion back into its cage, continuing to step out of safe havens after last week's flash shock that saw a tumultuous rebalancing of risk assets; the Guppy still remains off of December's lows at the 140.00 major handle as the Brexit-weakened GBP remains exposed to uncertainty, but improving risk sentiment ahead of US-China trade negotiations, due to begin today are helping the broader market alleviate trade concerns for the time being.

Both the GBP and the JPY are unrepresented on the economic calendar for Tuesday, and the GBP/JPY will be a risk-barometer for the mid-week as traders look ahead to this week's Brexit angling in the headlines, as well as trade negotiations in the Pacific theater.

GBP/JPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 138.91
    Today Daily change: 9.0 pips
    Today Daily change %: 0.0648%
    Today Daily Open: 138.82
Trends:
    Previous Daily SMA20: 140.54
    Previous Daily SMA50: 143.53
    Previous Daily SMA100: 144.8
    Previous Daily SMA200: 146.04
Levels:
    Previous Daily High: 138.88
    Previous Daily Low: 137.61
    Previous Weekly High: 140.89
    Previous Weekly Low: 131.79
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Previous Daily Fibonacci 38.2%: 138.39
    Previous Daily Fibonacci 61.8%: 138.1
    Previous Daily Pivot Point S1: 137.99
    Previous Daily Pivot Point S2: 137.17
    Previous Daily Pivot Point S3: 136.72
    Previous Daily Pivot Point R1: 139.26
    Previous Daily Pivot Point R2: 139.7
    Previous Daily Pivot Point R3: 140.53

 

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