M e x M o n e y


Save up to 30%* on our Merchant Card Processing.

More Details

Dear Customer, We have launched AI powered KYC & KYB facility for New customer account opening.

  • GBP/JPY holds above the 180.00 area amid the fear of FX intervention by Japanese authorities.
  • The cross holds below the 50- and 100-hour EMAs with the bearish RSI on the four-hour chart.
  • The first resistance level is seen at 181.58; 180.00 acts as an initial support level.

The GBP/JPY cross manages to find support above the 180.00 level during the early European session on Wednesday. The downtick of the pair is supported by the fear of FX intervention by Japanese authorities. The cross currently trades around 180.13, gaining 0.09% on the day.

Early Wednesday, Japan’s top currency diplomat Masato Kanda said any intervention would not target forex levels but volatility while mentioning that it’s normal for authorities not to comment on whether they intervened or not. Additionally, Japan’s Chief Cabinet Secretary Hirokazu Matsuno said on Monday that he will continue to take appropriate steps on FX, but still have no comment on whether Japan intervened in the FX market.

From the technical perspective, the GBP/JPY cross holds below the 50- and 100-hour Exponential Moving Averages (EMAs) with a downward slope on the four-hour chart, highlighting the path of least resistance for the cross is to the downside.

The first resistance level of GBP/JPY is seen near the 50-hour EMA at 181.58. The additional upside filter to watch is at 182.17 (the 100-hour EMA). Further north, the next stop is located near the upper boundary of the Bollinger Band at 183.42. Any follow-through buying above the latter will see a rally to a high of September 15 at 183.90.

On the downside, 180.00 acts as an initial support level for the cross. Any decisive break below the latter will see a drop to the lower limit of the Bollinger Band at 179.43, en route to 178.85 (a low of June 16).

It’s worth noting that the Relative Strength Index (RSI) is located in bearish territory below 50, highlighting that further downside cannot be ruled out.

GBP/JPY four-hour chart


Today last price180.21
Today Daily Change0.24
Today Daily Change %0.13
Today daily open179.97
Daily SMA20182.62
Daily SMA50183.29
Daily SMA100180.88
Daily SMA200171.95
Previous Daily High181.38
Previous Daily Low178.08
Previous Weekly High183.03
Previous Weekly Low180.89
Previous Monthly High185.78
Previous Monthly Low180.82
Daily Fibonacci 38.2%179.34
Daily Fibonacci 61.8%180.12
Daily Pivot Point S1178.24
Daily Pivot Point S2176.52
Daily Pivot Point S3174.95
Daily Pivot Point R1181.54
Daily Pivot Point R2183.1
Daily Pivot Point R3184.83