GBP/JPY Technical Analysis: Clears 100-hour SMA barrier ahead of UK macro data

   •  The cross extended its sideways consolidative price action and remained confined within last week’s post-BoE trading range, around the 142.00 handle.

   •  Any intraday downtick continues to find some support near the 141.85 horizontal zone, with bulls now looking to build on the momentum beyond 100-hour SMA.

   •  Meanwhile, neutral technical indicators on hourly/daily charts have failed to provide any directional impetus and thus, warrant caution before placing aggressive bets.

   •  Today’s UK macro data, including the prelim GDP growth figures for the fourth quarter of 2018, might help determine a firm intraday/near-term direction.

   •  Hence, any subsequent up-move seems more likely to meet with some fresh supply/remain capped near the top end of a short-term descending trend-channel formation.

GBP/JPY 1-hourly chart

GBP/JPY

Overview:
    Today Last Price: 142.21
    Today Daily change %: 0.13%
    Today Daily Open: 142.03
Trends:
    Daily SMA20: 142.26
    Daily SMA50: 141.45
    Daily SMA100: 144.05
    Daily SMA200: 144.9
Levels:
    Previous Daily High: 142.52
    Previous Daily Low: 141.85
    Previous Weekly High: 144.18
    Previous Weekly Low: 141.12
    Previous Monthly High: 144.85
    Previous Monthly Low: 131.79
    Daily Fibonacci 38.2%: 142.11
    Daily Fibonacci 61.8%: 142.27
    Daily Pivot Point S1: 141.74
    Daily Pivot Point S2: 141.46
    Daily Pivot Point S3: 141.07
    Daily Pivot Point R1: 142.42
    Daily Pivot Point R2: 142.81
    Daily Pivot Point R3: 143.1

 

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