Skip to content
breaking news GBPJPY shows some technical disappointment

GBPJPY moves below a floor between 155.918 and 156.06

GBPJPY is trading lower for the second day in a row after yesterday’s high price stalled against the swing/ceiling zone between 157.42 and 157.766.

Today the pair moved below a former high/low dating back to December 31 between 155.918 and 156.06. The price is currently trading in this swing zone after hitting a low of 155.449 earlier today. This is the lowest level since January 4.

If price can sustain in this swing zone and re-ignite a downward move, it would give sellers more confidence for a push towards 154.86 (Jan 3rd swing low (and year low), followed by the 38.2% retracement of the rise from the Dec 20 low at 154.618

Conversely, move above the swing zone now and traders selling on the break will likely be disappointed. I would expect them to start looking back towards the 156.60 area and the 100 and 200 hourly moving averages near 156.80.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.