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  • GBP/JPY trades around 146.55 during initial Asian sessions on Wednesday.
  • Yesterday, the pair crossed a yearlong resistance-line joining February 2018 high to November but failed to close beyond the same upside barrier.
  • The pair has been trading well beneath the 146.85 resistance-line since morning, which in turn highlights the importance of 146.00 – 145.90 horizontal support area for the sellers.
  • Should the pair slips under 145.90, Tuesday’s low around 145.35 may offer intermediate halt ahead of dragging it to the 200-day simple moving average (SMA) level of 144.65.
  • Meanwhile, an upside clearance of 146.85 trend-line can’t be considered as a strong signal for the pair’s rise as another resistance-line connecting high of April and November 2018, together with 61.8% Fibonacci Retracement of February 2018 to January 2019 downturn, at 147.35 can challenge buyers.
  • Given the bulls ability to cross 147.35, 148.45, 149.30 and 150.00 can come forward as favorites.

GBP/JPY daily chart

Additional important levels:

       Today Last Price:  146.53
       Today Daily change:  -3  pips
       Today Daily change %:  -0.02%
       Today Daily Open:  146.56
       Daily SMA20:  143.25
       Daily SMA50:  141.56
       Daily SMA100:  143.48
       Daily SMA200:  144.61
       Previous Daily High:  147.06
       Previous Daily Low:  145.4
       Previous Weekly High:  145.05
       Previous Weekly Low:  142.46
       Previous Monthly High:  144.85
       Previous Monthly Low:  131.79
       Daily Fibonacci 38.2%:  146.43
       Daily Fibonacci 61.8%:  146.03
       Daily Pivot Point S1:  145.61
       Daily Pivot Point S2:  144.67
       Daily Pivot Point S3:  143.95
       Daily Pivot Point R1:  147.28
       Daily Pivot Point R2:  148.01
       Daily Pivot Point R3:  148.95