GBP/JPY Technical Analysis: Forms a base near 50-hour SMA, bulls await a move beyond 145.00 mark

• The cross struggled to gain any meaningful traction on Monday, albeit has managed to hold its neck and form a firm intraday base near 50-hour SMA.

GBP/JPY 1-hourly chart

• However, given last week's breakthrough a descending trend-channel, bullish technical indicators support prospects for a further near-term appreciating move.

4-hourly chart

• A sustained move beyond the 145.00 mark will add credence to the constructive outlook and set the stage for a move towards reclaiming the 146.00 handle.

• Alternatively, weakness below the mentioned intraday support could further get extended back towards challenging the 144.00 handle en-route 143.80 support.

GBP/JPY

Overview:
    Today Last Price: 144.6
    Today Daily change %: 0.10%
    Today Daily Open: 144.45
Trends:
    Daily SMA20: 143
    Daily SMA50: 141.41
    Daily SMA100: 143.53
    Daily SMA200: 144.64
Levels:
    Previous Daily High: 144.75
    Previous Daily Low: 143.78
    Previous Weekly High: 145.05
    Previous Weekly Low: 142.46
    Previous Monthly High: 144.85
    Previous Monthly Low: 131.79
    Daily Fibonacci 38.2%: 144.38
    Daily Fibonacci 61.8%: 144.15
    Daily Pivot Point S1: 143.91
    Daily Pivot Point S2: 143.36
    Daily Pivot Point S3: 142.93
    Daily Pivot Point R1: 144.88
    Daily Pivot Point R2: 145.3
    Daily Pivot Point R3: 145.85

GBP/JPY Technical Analysis: Forms a base near 50-hour SMA, bulls await a move beyond 145.00 mark

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