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GBP/JPY Technical Analysis: probing psychological hurdle of 140.00

The GBP/JPY pair is currently proving the resistance of 140.00. Moreover, that psychological level acted as stiff hurdle three times in the last 12 hours.

Hourly chart

  • The falling channel breakout and the bullish-higher lows, as represented by the ascending trendline, indicate the psychological hurdle of 140.00 could be scaled soon for a test of supply around the trendline sloping downwards from the Nov. 8 and Dec. 14 highs.
  • A daily close above that trendline would confirm a bear-to-bull trend change and open up upside toward 142.77 (Oct. 26 low).
  • The bullish setup on the hourly chart would be invalidated below 139.00.

Trend: bullish

GBP/JPY

Overview:
    Today Last Price: 139.97
    Today Daily change: 74 pips
    Today Daily change %: 0.531%
    Today Daily Open: 139.23
Trends:
    Previous Daily SMA20: 139.53
    Previous Daily SMA50: 142.82
    Previous Daily SMA100: 144.6
    Previous Daily SMA200: 145.76
Levels:
    Previous Daily High: 140.06
    Previous Daily Low: 138.6
    Previous Weekly High: 139.49
    Previous Weekly Low: 137.44
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Previous Daily Fibonacci 38.2%: 139.16
    Previous Daily Fibonacci 61.8%: 139.5
    Previous Daily Pivot Point S1: 138.53
    Previous Daily Pivot Point S2: 137.83
    Previous Daily Pivot Point S3: 137.07
    Previous Daily Pivot Point R1: 139.99
    Previous Daily Pivot Point R2: 140.76
    Previous Daily Pivot Point R3: 141.46

 

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