26 Sep 2018
GBP/JPY Technical Analysis: eyes on 150.00 for the Guppy
- Guppy buyers are looking at making a run at the 150.00 handle, and a fresh four-month high.
- Brexit concerns are easing off for now, and the GBP/JPY is set to gain further ground above the 200-day EMA.
- There's still potential for a downside reversal, as the Daily candles show the 50- and 21-day EMAs still trapped beneath the 200-day EMA, implying that a potential bull trend is still fresh.
GBP/JPY Chart, 1-Hour
| Spot rate | 148.98 |
| Current week change | 1.34% |
| Previous week high | 149.71 |
| Previous week low | 146.32 |
| Support 1 | 148.28 (50-hour EMA) |
| Support 2 | 147.45 (200-hour EMA) |
| Support 3 | 146.82 (200-day EMA) |
| Resistance 1 | 149.02 (previous day high) |
| Resistance 2 | 149.71 (four-month high) |
| Resistance 3 | 150.00 (major technical handle) |