Market news

Show news:
  • All news
  • Currency news
  • Stock news
  • Raw news



18.01.2022 12:57

GBP/JPY Price Analysis: Sellers eye 156.00 on bearish Doji below 200-HMA

  • GBP/JPY extends pullback from daily top after flashing bearish candlestick on the hourly chart.
  • Failures to cross 200-HMA, weekly resistance line add to the bearish bias.
  • 50-HMA offers immediate support ahead of 23.6% Fibonacci retracement.

GBP/JPY remains on the back foot around 156.60, paring intraday gains with the latest U-turn from 156.91 during early Tuesday morning in London.

The pair justifies technical signals to return to the seller’s desk, despite printing mild intraday gains by the press time.

Among them, a bearish Doji candlestick below the 200-HMA and a descending resistance line from January 12, not to forget the steady Momentum line, play their roles.

That said, the GBP/JPY prices currently drop towards 50-HMA level near 156.30 while 23.6% Fibonacci retracement (Fibo.) of January 12-14 declines, near 156.00, will challenge the pair bears afterward.

In a case where the pair remains bearish past 156.00, the monthly low near 155.45 will be on the cards.

Alternatively, a clear upside break of the 200-HMA level of 156.77 will direct GBP/JPY prices towards the 157.00 threshold.

Following that, 154.45 and the monthly peak of 157.76 should lure the GBP/JPY buyers before directing them to the 2021 high near 158.22.

GBP/JPY: Hourly chart

Trend: Further declines expected

 


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

July 2022
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00