GBP/JPY is currently at 131.28, near session highs 10 pips above, and still below Friday's highs at 131.50. The cross is up +0.45% since last week's close, with Cable slightly lower from same close, and USD/JPY at session highs above 82.50.
According to Fan Yang, CMT at FXTimes: “The GBP/JPY is finding some short-term support at this pivot area 130.00. The intermediate term outlook is still bullish as the 4H and daily charts show higher highs and higher lows since the left side of the chart and is trading above this time-frame’s 200 simple moving average,” the analyst says, adding: “Note that the market might still be bullish below 128.00.”
For the nearest term, resistance to the upside show at 1.31.50 as past Friday's highs price zone and March 19 lows, followed by 132.27 as March 16/22 highs. For the downside, immediate support show at 130.00 price zone as March 15/22/23 lows, followed by 129.80 as Feb 27/March 02/09 highs.
According to Fan Yang, CMT at FXTimes: “The GBP/JPY is finding some short-term support at this pivot area 130.00. The intermediate term outlook is still bullish as the 4H and daily charts show higher highs and higher lows since the left side of the chart and is trading above this time-frame’s 200 simple moving average,” the analyst says, adding: “Note that the market might still be bullish below 128.00.”
For the nearest term, resistance to the upside show at 1.31.50 as past Friday's highs price zone and March 19 lows, followed by 132.27 as March 16/22 highs. For the downside, immediate support show at 130.00 price zone as March 15/22/23 lows, followed by 129.80 as Feb 27/March 02/09 highs.
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