GBP/JPY Price Analysis: Buyers reclaimed 192.00 as morning star forms

Source Fxstreet
Apr 8, 2024 19:26
  • GBP/JPY climbs past 192.00, buoyed by light economic data and upbeat sentiment.
  • Resistance at 192.24, 192.50, with eyes on 193.00+.
  • Defined support levels mark potential reversal points if retreat occurs.

The GBP/JPY climbed 0.29% late in the North American session after bouncing off daily lows reached earlier at around 191.35. Risk appetite improvement amid a light economic docket sponsored a rally in the cross-pair, which trades at 192.10.

GBP/JPY Price Analysis: Technical outlook

The GBP/JPY daily chart suggests the air is neutral to slightly upwards after buyers reclaimed 192.00. If the pair surpasses the April 4 high of 192.24, look for a test of 192.50. A breach of the latter will open the door to challenging the 193.00 figure. Further upside is seen at 193.53.

 On the other hand, if the cross dives below 192.00, that would expose the Tenkan-Sen level at 191.14. Once surpassed, the next support would be the Senkou Span A at 190.94, ahead of the Kijun-Sen at 190.74. in further weakness, the next stop would be the April 2 low of 190.03.

GBP/JPY Price Action – Daily Chart

GBP/JPY

Overview
Today last price 192.1
Today Daily Change 0.48
Today Daily Change % 0.25
Today daily open 191.62
 
Trends
Daily SMA20 190.76
Daily SMA50 189.7
Daily SMA100 187
Daily SMA200 185.07
 
Levels
Previous Daily High 191.64
Previous Daily Low 190.68
Previous Weekly High 192.25
Previous Weekly Low 190.04
Previous Monthly High 193.54
Previous Monthly Low 187.96
Daily Fibonacci 38.2% 191.27
Daily Fibonacci 61.8% 191.05
Daily Pivot Point S1 190.99
Daily Pivot Point S2 190.35
Daily Pivot Point S3 190.03
Daily Pivot Point R1 191.95
Daily Pivot Point R2 192.28
Daily Pivot Point R3 192.91

 

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
USD/CHF edges higher to near 0.9150 as traders turn toward US DollarUSD/CHF retraces its recent losses that were registered in the previous session, trading around 0.9150 during the European hours on Friday.
Source  Fxstreet
USD/CHF retraces its recent losses that were registered in the previous session, trading around 0.9150 during the European hours on Friday.
placeholder
RBNZ expected to keep key interest rate on hold as inflation pressures persistThe Reserve Bank of New Zealand (RBNZ) will announce its monetary policy decision on Wednesday at 02:00 GMT and is widely expected to maintain the Official Cash Rate (OCR) at 5.50%.
Source  Fxstreet
The Reserve Bank of New Zealand (RBNZ) will announce its monetary policy decision on Wednesday at 02:00 GMT and is widely expected to maintain the Official Cash Rate (OCR) at 5.50%.
placeholder
USD/NOK remains steady as cautious remarks by Fed officials underpin the USDThe USD/NOK pair is trading with mild gains, with the USD holding its ground against its peers.
Source  Fxstreet
The USD/NOK pair is trading with mild gains, with the USD holding its ground against its peers.
goTop
quote