GBP/JPY Price Analysis: Pound off session highs near 132.00 figure vs. Japanese yen

 

 

 

GBP/JPY is trading below its 200 SMA on the four-hour chart while printing lower lows and lower highs, suggesting a bearish momentum. However, the currency cross is challenging the 132.29 resistance and the 100 SMA on the four-hour chart. Given the overall bearish bias, sellers should remain in control below the mentioned level as bears can set their eyes on the 131.46, 130.80, 130.00 levels on the way down. On the other hand, resistances are seen near 132.29, 133.25 and 134.00 price levels.