The Sterling is moderately higher on Tuesday, favored by a somewhat weaker Yen, which suffers when US Treasury yields rise and the upbeat UK manufacturing figures.
The Sterling has trimmed some losses amid Yen weakness and upbeat UK manufacturing data Failure to break above 190.75 would keep the bearish structure intact. An AB=CD correction might push the pair to 189.70. Bulls, however, are likely to be challenged at the 190.75 area. GBP/JPY Price Analysis: Technical Outlook The pair has completed a bullish cycle at 193.55 and is going through a corrective reversal with scope for further decline. Bears have been contained so far at the 61.
60 level. On the contrary. a confirmation above 190.75 and 1.91.50 would negate this view. GBP/JPY 4-hour chart GBP/JPY Overview Today last price 190.58 Today Daily Change 0.24 Today Daily Change % 0.13 Today daily open 190.34 Trends Daily SMA20 190.45 Daily SMA50 189.42 Daily SMA100 186.83 Daily SMA200 184.91 Levels Previous Daily High 191.36 Previous Daily Low 190.18 Previous Weekly High 191.68 Previous Weekly Low 190.35 Previous Monthly High 193.54 Previous Monthly Low 187.
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