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GBP/JPY slips the 138.00 level as risk aversion strikes again

  • Risk aversion returns to markets as China data continues to miss the mark.
  • Several days' worth of bidding on trade-talk hopes is evaporating as real-world troubles return to the forefront.

GBP/JPY is sliding in early Thursday action as the Yen sees a resurgence of bidding across the board, fueled by a risk-off spark in market sentiment as Chinese data continues to disappoint.

China's annualized CPI for December clipped into 1.9%, missing the forecast 2.1% and falling even further from the previous period's 2.2%. A continuing decline in growth figures for China, sparked by the ongoing tariff spat with the US, is seeing market sentiment take frequent plunges into the risk-off side, and broader markets are reversing recent days' gains built on hopes that US-China trade talks over the past several days would yield tangible results.

With the trade talks concluded and headline statements from both countries heavy on the rhetoric but thin on the concrete details, reality threatens to set in once again, and the GBP/JPY pairing is marking in a key turnaround point at swing highs near the 139.00 region which failed to generate any sustained moves higher.

GBP/JPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 137.93
    Today Daily change: -35 pips
    Today Daily change %: -0.253%
    Today Daily Open: 138.28
Trends:
    Previous Daily SMA20: 140.12
    Previous Daily SMA50: 143.3
    Previous Daily SMA100: 144.72
    Previous Daily SMA200: 145.93
Levels:
    Previous Daily High: 139.11
    Previous Daily Low: 137.76
    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%: 138.28
    Previous Daily Fibonacci 61.8%: 138.6
    Previous Daily Pivot Point S1: 137.65
    Previous Daily Pivot Point S2: 137.03
    Previous Daily Pivot Point S3: 136.3
    Previous Daily Pivot Point R1: 139
    Previous Daily Pivot Point R2: 139.73
    Previous Daily Pivot Point R3: 140.36

 

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