29 May 2020
GBP/JPY Price Analysis: Pound stays capped below 133.00 figure vs. yen
- GBP/JPY remains choppy below the 133.00 figure.
- The level to beat for sellers is the 132.00 support.
GBP/JPY four-hour chart
After attempting to break above the 133.00 resistance one more time, GBP/JPY remains choppy as the month of May comes to an end. As the overall trend remains bearish, sellers would be looking for a break below the 132.00 level with the possibility of a breakdown towards the 131.33 and 130.75 levels. On the other hand, the spot is expected to meet strong resistance near the 133.00 level.
Resistance: 133.00, 133.87, 134.83
Support: 132.00, 131.33, 130.80
Additional key levels