- Guppy moving flatly after struggling to develop momentum on Thursday.
- Risk aversion remains fairly well-bid across the G10 marketscape as investors fear growing trade tensions once more.
GBP/JPY finds itself frozen at the 144.00 major handle after a mild dip-and-recover on Thursday as bearish Brexit headlines continue to pull the Sterling towards the downside, and a notable risk-off tinge to broader markets is keeping the Guppy from staging a full-scale recovery.
Sino-US trade wars are all but back on the table following Canada’s arrest of China’s mega-corporation Huawei’s global CFO for extradition to the US, a move that is sparking an angry response from Chinese officials; President Trump is doing little to help the mood with tweets where he declares himself a “Tariff Man”, and returning to his regular vitriolic brand of tweets this week after a fairly cowed appearance at the G20 Leader’s Summit last weekend, where Trump and China’s Xi Jinping initially agreed to a 90-day tariff truce while the two sides return to the negotiating table, and Trump waited until he was back within the safety of the White House to continue his regular flow of firebranding.
The GBP/JPY pairing clocked in an inside bar on Wednesday near a key inflection point at medium-term resistance above 143.20, and a break to the upside is likely to be met by fresh resistance at the 200-day MA at 146.90, with near-term resistance from swing highs at the 149.50 barrier.
GBP/JPY Technical Levels
Today Last Price: 144
Today Daily change: -13 pips
Today Daily change %: -0.0902%
Today Daily Open: 144.13
Previous Daily SMA20: 145.21
Previous Daily SMA50: 146.3
Previous Daily SMA100: 145.5
Previous Daily SMA200: 146.86
Previous Daily High: 144.23
Previous Daily Low: 143.25
Previous Weekly High: 145.84
Previous Weekly Low: 144.52
Previous Monthly High: 149.5
Previous Monthly Low: 144.02
Previous Daily Fibonacci 38.2%: 143.62
Previous Daily Fibonacci 61.8%: 143.86
Previous Daily Pivot Point S1: 143.51
Previous Daily Pivot Point S2: 142.89
Previous Daily Pivot Point S3: 142.53
Previous Daily Pivot Point R1: 144.49
Previous Daily Pivot Point R2: 144.85
Previous Daily Pivot Point R3: 145.47