First of all note that the recent fluctuations of the GBP/JPY have provided the opportunity to adjust the support and resistance zones, which impact the rate. Namely, the rate trades between the support zone at 152.55/152.75 and the resistance of 153.65/153.75.
Meanwhile, note that between the support and resistance zone the 50-hour simple moving average is located at. The SMA has shown to manage to provide short term support and resistance.
In the case that the pair passes the resistance of the 153.65/153.75 zone, it might find resistance in the weekly simple pivot point at 154.10. Above the pivot point, the 200-hour SMA near 155.00 could serve as a resistance level.
However, a passing of the 152.55/152.75 support zone could result in the rate reaching for the 152.00 level, which had impacted the rate in early October.
