GBPJPY Registers Strong Positive Traction Past the Mid-143.00s Threshold

GBPJPY Price Analysis –  February 19

The GBPJPY cross increased to fresh monthly highs, within the mid-143.00 levels, in response to higher-than-expected UK consumer inflation data. The movement may then set the scene for the expansion of the recent positive momentum of the pair.

Key Levels
Resistance Levels: 148.66, 147.95, 144.60
Support Levels: 140.83, 135.49, 126.54

GBPJPY Long term Trend: Ranging

In a broader trend, an increase from the level of 126.54 may be either the third stage of the consolidation model from 122.75 (low) or the beginning of a fresh uptrend. In any case, a further rally is anticipated, while the support level of 139.31 is maintained, up to the barrier level of 148.66 / 150.00.

The reaction from there may indicate in which scenario it is. However, a steady breakthrough of the support level of 139.31 can weaken this scenario and alter the initially long-term neutral trend.

GBPJPY Short term Trend: Ranging

GBPJPY remains in volatile range trading while flat from the level at 144.60 in extension. On the other hand, a breakthrough of the level of 140.83 may approach a partial pullback from 126.54 to 144.66 at the levels of 139.31.

Meanwhile, overcoming the resistance level of 144.60 may lead to a stronger rebound to re-test the level at a high of 147.95.

Instrument: GBPJPY
Order: Buy
Entry price: 143.00
Stop: 142.00
Target: 144.60

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!