• GBP/JPY's descent under the 190.00 mark aligns with a broader downward trend, eyeing further technical levels.
  • A pivotal close below the February 29 low could open paths towards 188.73 Kijun-Sen and beyond.
  • Recovery hinges on reclaiming ground above 189.00, with resistances waiting at 189.71 and the early March highs.

The GBP/JPY fell for the fourth straight day late in the North American session, set to finish the week with losses of 0.44%, below the 190.00 threshold. At the time of writing, the cross trades at 188.98, down 0.31%.

GBP/JPY Price Analysis: Technical outlook

After diving below February 29 low of 189.04, the GBP/JPY has tilted to the downside, but sellers need to achieve a daily close below that level, so they test the Kijun-Sen at 188.73. Further losses are seen at 188.00, followed by the 50-day moving average (DMA) at 187.47.

On the other hand, if buyers move in and the pair prints a close above 189.00, that could sponsor a leg up. The first resistance would be the Tenkan-Sen at 189.71, followed by the March 7 high at 190.14. the next ceiling level would be the March 4 high at 191.18.

GBP/JPY Price Action – Daily Chart

GBP/JPY

Overview
Today last price 188.98
Today Daily Change -0.69
Today Daily Change % -0.36
Today daily open 189.67
 
Trends
Daily SMA20 189.87
Daily SMA50 187.34
Daily SMA100 185.68
Daily SMA200 183.85
 
Levels
Previous Daily High 190.31
Previous Daily Low 188.24
Previous Weekly High 191.33
Previous Weekly Low 189.05
Previous Monthly High 191.33
Previous Monthly Low 185.23
Daily Fibonacci 38.2% 189.03
Daily Fibonacci 61.8% 189.52
Daily Pivot Point S1 188.5
Daily Pivot Point S2 187.33
Daily Pivot Point S3 186.42
Daily Pivot Point R1 190.58
Daily Pivot Point R2 191.48
Daily Pivot Point R3 192.65

 

 

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