GBP/JPY rally is rejected at 133.00 level for the fourth time in May. The pair retreats to 131.85 amid broad-based pound’s weakness. Sterling’s rally from 130.65 lows last week has been unable to extend beyond the 133.00 level, for the fourth time so far this month, and the pair has staged a sharp reversal on Wednesday, reaching prices below 132.00 amid broad-based pound weakness. The pair has lost nearly 1% so far today and is seeking support at the 20-day SMA at 131.85 at the moment of writing. Below here, GBP might find buyers at intra-day lows 131.65. A convincing break of that level would strengthen the bears, pushing the GBP/JPY 131.00 and May 22 low at 130.65. On the upside, the pound should break above 133.00 to maintain the near-term positive trend intact. Above 133.00, next targets would be 133.75 (April 23 high) and 134.53 (50% retracement of the February-March decline). GBP/JPY 4-hour 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 EUR/JPY Price Analysis: Euro pops and retraces vs. Japanese yen, trades near 118.30 level FX Street 3 years GBP/JPY rally is rejected at 133.00 level for the fourth time in May. The pair retreats to 131.85 amid broad-based pound's weakness. Sterling’s rally from 130.65 lows last week has been unable to extend beyond the 133.00 level, for the fourth time so far this month, and the pair has staged a sharp reversal on Wednesday, reaching prices below 132.00 amid broad-based pound weakness. The pair has lost nearly 1% so far today and is seeking support at the 20-day SMA at 131.85 at the moment of writing. Below here, GBP might find buyers at intra-day lows 131.65. A convincing break of… 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.
