GBP/JPY Price Analysis: Retreats From Nine-Year Peak Below 191.00 -

GBP/JPY Price Analysis: Retreats From Nine-Year Peak Below 191.00

Mar 23, 2024Jeremy ParkinsonFinance0

The GBP/JPY retreats deeper below the 190.00 figure after hitting a 9-year high of 193.55, as buyers fail to push through the latter and aim toward the 194.00 mark. At the time of writing, the pair traded at 190.69, down 0.61%. GBP/JPY Price Analysis: Technical outlookDespite falling, the GBP/JPY remains upward biased despite posting losses. The confluence of the Tenkan and Kijun-Sen at 190.75 capped the pair’s slide, but downside risks remain. If sellers push the exchange rate below the latter, the pair could aim for 190.00. Further losses are seen below that level, as the 189.00 psychological figure would be up next.However, the path of least resistance is upwards, and if they reclaim the 191.00 figure, look for further gains. The next resistance would be today’s high at 192.23, followed by the 193.00 mark. GBP/JPY Price Action – Daily Chart GBP/JPY

OVERVIEW Today last price 190.72 Today Daily Change -1.25 Today Daily Change % -0.65 Today daily open 191.97

TRENDS Daily SMA20 190.28 Daily SMA50 188.85 Daily SMA100 186.43 Daily SMA200 184.59

LEVELS Previous Daily High 193.51 Previous Daily Low 191.85 Previous Weekly High 190.03 Previous Weekly Low 187.96 Previous Monthly High 191.33 Previous Monthly Low 185.23 Daily Fibonacci 38.2% 192.48 Daily Fibonacci 61.8% 192.87 Daily Pivot Point S1 191.38 Daily Pivot Point S2 190.78 Daily Pivot Point S3 189.71 Daily Pivot Point R1 193.04 Daily Pivot Point R2 194.1 Daily Pivot Point R3 194.7

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