GBP/JPY accelerates to the downside during the last hours, amid risk aversion. Price is testing the 150.50/60 area that continues to be a relevant technical level. The GBP/JPY turned to the downside after hitting at 151.99, the highest level since April 7. It is trading at 150.60 after the sharp reversal, suggesting the upside is over for the moment. The 150.50/60 area was a resistance during the previous weeks and now will act as support. Also, at the mentioned area the 21 simple moving average is seen (4-hour chart). A consolidation below 150.50 would point to further losses, with a test of 150.00 on the cards. Technical indicators are biased modestly to the downside in the four-hour chart. A recovery back above 151.30 would alleviate the bearish pressure. For the pound to offset the negative bias, a firm break above 152.00 is needed. 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 USD/JPY: Neural in the short-term, US yields set to remain in a range – MUFG FX Street 2 years GBP/JPY accelerates to the downside during the last hours, amid risk aversion. Price is testing the 150.50/60 area that continues to be a relevant technical level. The GBP/JPY turned to the downside after hitting at 151.99, the highest level since April 7. It is trading at 150.60 after the sharp reversal, suggesting the upside is over for the moment. The 150.50/60 area was a resistance during the previous weeks and now will act as support. Also, at the mentioned area the 21 simple moving average is seen (4-hour chart). A consolidation below 150.50 would point to further losses, with a… 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.
