GBP/JPY remains biased lower capped below trendline resistance at 131.85. The pound remains bid with the yen favoured by global risk aversion. The sterling remains trading on a bid tone against the Japanese yen, set for a three-day losing streak, unable to stretch above trendline resistance from April 30 highs, now at 131.85 area. GBP/JPY’s upside attempt from 129.29 lows witnessed earlier this week found resistance at the 50-day SMA, near 132.40, and the pair has kept the bearish trend intact, with the pound weaker against the safe haven-yen as the grim UK macroeconomic data added concerns to the looming Brexit uncertainty. The pair should break above the mentioned trendline, now around 131.85 and the 50-day SMA, at 132.30 area to ease negative pressure which might increase confidence for buyers, to reach May 11 highs at 133.20. On the downside, immediate support lies at 130.65 (May 22 low) and below here, 129.45 (23,6% retracement of the Feb.-Mar. decline) and 127.45 (Mar. 23 lows). GBP/JPY daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US health official Fauci: Initial study of Moderna vaccine encouraging FX Street 3 years GBP/JPY remains biased lower capped below trendline resistance at 131.85. The pound remains bid with the yen favoured by global risk aversion. The sterling remains trading on a bid tone against the Japanese yen, set for a three-day losing streak, unable to stretch above trendline resistance from April 30 highs, now at 131.85 area. GBP/JPY’s upside attempt from 129.29 lows witnessed earlier this week found resistance at the 50-day SMA, near 132.40, and the pair has kept the bearish trend intact, with the pound weaker against the safe haven-yen as the grim UK macroeconomic data added concerns to the looming Brexit uncertainty. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
