GBP/JPY Price Analysis: Pound limited by 132.30 resistance vs. yen, bearish

 

 

GBP/JPY is trading below its 100 and 200 SMA on the four-hour chart while printing lower lows and lower highs, suggesting a downward bias in the medium-term. The currency cross consolidates a rebound below the 132.29 resistance and the 100 SMA. As the main downward bias stays intact, sellers remain in control below the mentioned level with a possible decline towards the 131.46, 130.80 and 130.00 levels. On the other hand, resistances are seen near 132.29, 133.25 and 134.00 price levels.