Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
GBP/JPY Technical Analysis: Consolidating Below 192.00

GBP/JPY Technical Analysis: Consolidating Below 192.00

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

The British Pound is in digestion mode after attempting to turn downward against the Japanese Yen as expected. A daily close below the 14.6% Fibonacci retracementat 189.45 exposes the 23.6% level at 187.91. Alternatively, a move above the 191.45-94 area (14.6% Fib expansion, June 5 high) clears the way for a test of the 23.6% threshold at 192.99.

We entered short GBPJPY at 190.74, initially aiming for 189.45. A stop-loss will be triggered on a daily close above 191.94. We will take profit on half of the trade and adjust the stop-loss to the breakeven level when the first target is hit.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.