GBP/JPY faces 200-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At the start of September, the GBP/JPY currency pair encountered resistance in the 200-day simple moving average and declined below the support of the 190.00 mark. By the middle of the month, the rate found support at 183.70/184.40 and started a recovery. This week, the pair was back above the support of the 190.00 and was expected to soon face the 200-day SMA.

In the case of a move above the 200-day simple moving average and the 195.00 level, the rate is set to face the strong support and resistance range at 198.70/200.70.

On the other hand, a decline of the Pound against the Japanese Yen is expected to look for support in the 190.00 mark and the 50-day simple moving average. Further below, the 183.70/184.40 zone is set to act as support, before the pair approaches the 180.00 mark.
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