- GBP/JPY will test instant support on 9-day EMA at 191.00.
- The 14-day RSI is below 50 years old, with a bearish momentum increasing.
- Currency Cross can test immediate resistance at 14-day EMA on 191.17.
GBP/JPY has been winning streak in three consecutive sessions, trading around 191.00 on Monday during European time. Daily chart analysis shows that pairs remain within the downward channel pattern, indicating a general bearish bias.
Additionally, the key momentum indicator, the 14-day relative strength index (RSI), falls below the 50 level, enhancing bearish momentum. However, GBP/JPY swaps around the nine- and 14-day index moving averages (EMA) to suggest that the short-term price momentum is neutral.
Regarding that support, the 9-day EMA at the 191.00 level will serve as immediate support for GBP/JPY crosses. A break below this level could weaken the momentum of the short-term price, lead to currency crosses, and navigate the five-month lowest at 187.05. Level 186.00.
The advantage is that GBP/JPY crosses can be tested for immediate resistance on 14-day EMA on 191.17. Breaks above these levels may weaken the bearish bias and support pairs and test the upper limit of the downward channel at the 192.50 level.
GBP/JPY: Daily Charts
British pound prices today
The table below shows the rate of change in the British pound (GBP) against the major currencies listed today. The British pound was the weakest against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.08% | -0.04% | -0.24% | 0.03% | -0.18% | -0.23% | 0.09% | |
| EUR | -0.08% | 0.03% | -0.37% | 0.05% | -0.17% | -0.21% | 0.12% | |
| GBP | 0.04% | -0.03% | -0.29% | 0.02% | -0.15% | -0.24% | 0.08% | |
| JPY | 0.24% | 0.37% | 0.29% | 0.28% | 0.10% | 0.22% | 0.32% | |
| CAD | -0.03% | -0.05% | -0.02% | -0.28% | -0.18% | -0.26% | 0.07% | |
| aud | 0.18% | 0.17% | 0.15% | -0.10% | 0.18% | -0.04% | 0.29% | |
| NZD | 0.23% | 0.21% | 0.24% | -0.22% | 0.26% | 0.04% | 0.32% | |
| CHF | -0.09% | -0.12% | -0.08% | -0.32% | -0.07% | -0.29% | -0.32% |
The heatmap shows the rate of change of each other's major currencies. The base currency is selected from the left column, and the estimated currency is selected from the top row. For example, if you choose the British pound from the left column and move it along the horizon to US dollars, the rate of change shown in the box represents GBP (base)/USD (QUOTE).
