GBP/JPY Price Analysis: Pound under pressure below the 131.50 level vs. yen
- GBP/JPY remains weak below the 131.46 resistance level.
- The level to beat for sellers is the 130.80 support.
GBP/JPY four-hour chart
GBP/JPY is trading below the 100 and 200 SMA on the four-hour chart while making lower lows and lower highs which is the hallmark of a bear trend. The currency cross remains weak below the 131.46 resistance just above the 50 SMA. Sellers should remain in charge with a potential drop towards the 130.80, 130.00 and 129.00 levels. On the flip side, resistances are seen near 131.46, 132.29 and 133.25 price levels.
Resistance: 131.46, 132.29, 133.25
Support: 130.80, 130.00, 129.00
Additional key levels
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