GBP/JPY hoping to hold onto 138.00 with UK GDP in the pipe
- Brexit woes still hang over the GBP, but Friday's data action could see traders worrying about something else for once.
- Despite recovering from last week's market shock, the Guppy remains decidedly bearish.
GBP/JPY continues to bump-step its way down the charts as Brexit concerns and refreshed market favour for the safe-haven JPY see the Guppy struggling to mark in a hold near 138.25.
Plenty of market data for the Sterling is coming in for a landing on Friday, culminating in the UK's monthly GDP reading which is expected to remain on hold at a meager 0.1%, but Brexit developments have been more or less put on hold as the UK's parliament heads towards a key vote on January 15th, and if PM May's Brexit proposal fails, as is looking increasingly likely, then May's government will have just three days to offer an alternative Brexit plan, or face what will most likely come out to be a parliamentary no-confidence vote. With next Tuesday marked in as the key vote day, Guppy traders will be buckling down as the Brexit coil continues to tighten in the run-up.
GBP/JPY Technical Levels
Today Last Price: 138.16
Today Daily change: -11 pips
Today Daily change %: -0.0796%
Today Daily Open: 138.27
Previous Daily SMA20: 139.84
Previous Daily SMA50: 143.13
Previous Daily SMA100: 144.67
Previous Daily SMA200: 145.87
Previous Daily High: 138.54
Previous Daily Low: 137.44
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%: 137.86
Previous Daily Fibonacci 61.8%: 138.12
Previous Daily Pivot Point S1: 137.62
Previous Daily Pivot Point S2: 136.98
Previous Daily Pivot Point S3: 136.52
Previous Daily Pivot Point R1: 138.73
Previous Daily Pivot Point R2: 139.19
Previous Daily Pivot Point R3: 139.83