GBPJPY Finds a Clear Path Amidst the End of Year Lackluster Trading

GBPJPY Price Analysis – December 25

GBPJPY patterns are near 141.60 level toward the start of Tuesday. The pair overlooks the recently released October minutes of the Bank of Japan’s monetary policy meeting, as worries over trade deal and Brexit hold the Japanese yen (JPY) generally more grounded than the British pound (GBP).

Key Levels
Resistance Levels: 148.66, 146.81, 143.86
Support Levels: 140.83, 130.49, 126.54

GBPJPY Long term Trend: Bullish

The British pound rebounded slightly during the trading session on Tuesday, as the market found little support at the trendline level of 141.50, but then reversed slightly since we are at the top of the previous trendline of the bull trend.

Now that we are there, it is likely that the market may try to pull together and reach the level of 145.00 on the moving average 5 handles in the next, and possibly even further.

GBPJPY Short term Trend: Ranging

The bias at 143.86 level of insignificant resistance remains unchanged, a further decline in favor of GBPJPY is insignificant. A fall from the level at 147.95 corrects the entire rally from the level at 126.54 and may aim part of the restoration of the level from 126.54 to 147.95 at 140.83.

On the other hand, above the level of 143.86, insignificant resistance can shift the slope upward for repeated testing of the level at a maximum of 147.95 level.

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$10 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
Share with other traders!