- The GBP/JPY bounces from the 192.00 zone, recovering 193.00 in the midst of a feeling of risk in improvement.
- Buyers must overcome 193.58 and 194.00 to unlock greater bullish potential around 195.00.
- The inability to stay above 192.00 risks a deeper setback to the 191.00 support zone.
The GBP/JPY records modest profits at the beginning of Friday’s Asian session, continuing an optimistic atmosphere since the PAR won more than 0.23% on Thursday, playing background around the 192.00 area. At the time of writing, the cross pair is quoted in 193.14, practically unchanged.
GBP/JPY price forecast: technical perspective
From a daily chart perspective, the GBP/JPY continues to quote laterally, although slightly inclined up. On Friday, the torque exceeded a confluence support zone composed of the simple mobile average (SMA) of 200 days in 192.48 and the 20 -day SMA in 192.74, but the vendors failed to close the day below those levels, and the buyers entered the market.
Until now, the GBP/JPY has recovered the figure of 193.00. If buyers want to extend their profits, they must exceed the maximum of May 22, 193.58 before 194.00. Once this was done, the operators could set their attention on the Tenkan-sen in 194.33, followed by the 195.00 mark.
On the contrary, if the GBP/JPY falls below 192.00, key support levels will be exposed, since the lack of impulse of the bulls will reduce prices. The following support would be the confluence of the 50 and 100 days SMA in 191.71, followed by the 191.00 figure.
GBP/JPY price chart – Diario
LIBRA ESTERLINA PRICE THIS WEEK
The lower table shows the percentage of sterling pound (GBP) compared to the main currencies this week. Libra sterling was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.87% | -1.02% | -0.96% | -0.82% | -0.08% | -0.25% | -0.98% | |
| EUR | 0.87% | -0.17% | -0.03% | 0.11% | 0.92% | 0.68% | -0.09% | |
| GBP | 1.02% | 0.17% | -0.15% | 0.28% | 1.09% | 0.86% | 0.08% | |
| JPY | 0.96% | 0.03% | 0.15% | 0.15% | 1.05% | 0.92% | 0.05% | |
| CAD | 0.82% | -0.11% | -0.28% | -0.15% | 0.75% | 0.57% | -0.20% | |
| Aud | 0.08% | -0.92% | -1.09% | -1.05% | -0.75% | -0.23% | -0.98% | |
| NZD | 0.25% | -0.68% | -0.86% | -0.92% | -0.57% | 0.23% | -0.77% | |
| CHF | 0.98% | 0.09% | -0.08% | -0.05% | 0.20% | 0.98% | 0.77% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
