GBPJPY Recovery Continues Amidst Recent Losses

GBPJPY Price Analysis – January 1

GBPJPY takes the bids to 144.36 level amid Tuesday’s Asian-European session. The pair must overcome critical nearby technical horizontal price levels, FX pair is adjusted as part of an uptrend while buyers trail the trendline to justify the recent recovery.

Key Levels
Resistance Levels: 150.00, 148.66, 147.95
Support Levels: 142.47, 139.31, 126.54

GBPJPY Long term Trend: Bullish

Finally, in the long term, we expect a bullish movement over psychological resistance at the level of 150, while the price movement increases slightly, finding support at 142.47 level, where an increase from the level of 126.54 can be a model of consolidation from a minimum to start a new uptrend.

In any case, a further rally is expected, as long as support remains at 139.31 level, to a level in the resistance zone of 148.66 / 150.00. The reaction from there can show in which case it should be. Failure to do so may expand long-term range trading. A decisive breakout of the 150.00 level may have long-term bullish repercussions.

GBPJPY Short term Trend: Ranging

GBPJPY lost momentum after reaching a level of 143.86, and intraday bias stay initially neutral. On the flip side, above the level of 143.86, the rebound from the level of 141.60 may continue to retest the maximum of 147.95 in the following.

Meanwhile, on the flip side, a breakthrough of the level at 141.60 can come close to a partial rollback of the level at 126.54 to 147.95 at 139.31.

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