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8 May 2020
GBP/JPY Price Analysis: Pound gains ground vs. Japanese yen, trade near 132.40 level
- GBP/JPY is rebounding from the current May lows.
- GBP/JPY can face tough resistance near the 133.00 level.
GBP/JPY four-hour chart
GBP/USD is trading below the main SMAs on the four-hour chart as the spot is rebounding from the current May lows. However, bulls are facing a tough resistance near the 133.00 level with the main SMAs just nearby. A failure here can see the quote going for a retest of the May lows.
Resistance: 133.00, 134.00
Support: 130.80, 129.00
Additional key levels