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  • The GBP/JPY is currently trading at 148.65, having clocked a high of 148.90 earlier today.
  • The hourly chart is showing a bearish divergence of the relative strength index (RSI) and stochastic. Further, the MACD turned bearish a few minutes before press time. The 5-period and 10-period SMA on the hourly are beginning to roll over in favor of the bears.
  • As a result, the JPY cross could revisit 148.00 (psychological hurdle) in the next few hours.
  • A strong bounce from the ascending 50-hour exponential moving average (EMA) could reinforce a bullish view put forward by the rising 5-day and 10-day EMAs.

Hourly Chart

Trend: Intraday bearish

GBP/JPY

Overview:
       Last Price:  148.68
       Daily change:  7.0  pips
       Daily change:  0.0471%
       Daily Open:  148.61
Trends:
       Daily SMA20:  146.3
       Daily SMA50:  146.49
       Daily SMA100:  145.72
       Daily SMA200:  147.48
Levels:
       Daily High:  148.65
       Daily Low:  147.3
       Weekly High:  147.26
       Weekly Low:  143.22
       Monthly High:  149.52
       Monthly Low:  142.78
       Daily Fibonacci 38.2%:  148.13
       Daily Fibonacci 61.8%:  147.82
       Daily Pivot Point S1:  147.73
       Daily Pivot Point S2:  146.85
       Daily Pivot Point S3:  146.39
       Daily Pivot Point R1:  149.07
       Daily Pivot Point R2:  149.53
       Daily Pivot Point R3:  150.41