- The overall GBP / JPY bearish trend remains intact.
- GBP / JPY challenges the resistance of 132.29.
Four-hour GBP / JPY chart
The GBP / JPY is trading below its 200 SMA on the four-hour chart while posting lows and highs lower, suggesting a bearish momentum. However, the currency crosses resistance at 132.29 and 100 SMA on the four-hour chart. Considering the overall downtrend, sellers should keep control below the level mentioned, as bears can fix their eyes on falling levels 131.46, 130.80 and 130.00. On the other hand, resistance is observed near the price levels 132.29, 133.25 and 134.00.
Resistance: 132.29, 133.25, 134.00
Support: 131.46, 130.80, 130.00,