{"id":215417,"date":"2023-12-19T12:12:16","date_gmt":"2023-12-19T06:42:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=215417"},"modified":"2023-12-19T12:12:16","modified_gmt":"2023-12-19T06:42:16","slug":"trims-a-part-of-strong-intraday-gains-faces-rejection-near-182-00-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/trims-a-part-of-strong-intraday-gains-faces-rejection-near-182-00-crypto-news\/","title":{"rendered":"Trims a part of strong intraday gains, faces rejection near 182.00 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>GBP\/JPY gains strong positive traction and spikes to a four-day high after the BoJ decision.<\/strong><\/li>\n<li><strong>The mixed technical setup warrants some caution for bulls and positioning for further gains.<\/strong><\/li>\n<li><strong>A convincing break below the 181.15 support will shift the bias in favour of bearish traders.<\/strong><\/li>\n<\/ul>\n<p>The GBP\/JPY cross rallies nearly 200 pips from the vicinity of the 180.00 psychological mark and touches a multi-day peak in reaction to the Bank of Japan&#8217;s (BoJ) decision to maintain the status quo. Spot prices, however, lose traction and retreat from the 182.00 neighbourhood as BoJ Governor Kazuo Ueda&#8217;s post-meeting press conference gets underway.<\/p>\n<p>From a technical perspective, the strong intraday move up and acceptance above the 181.00 mark confirms a breakout through a multi-day-old consolidative trading range. That said, oscillators on the daily chart are still holding deep in the negative territory. This makes it prudent to wait for strong follow-through buying before confirming that the GBP\/JPY cross has formed a bottom and positioning for an extension of the recent bounce from the 178.35 region, or the lowest level since October touched last week.<\/p>\n<p>In the meantime, momentum beyond the 182.00 mark is likely to confront some resistance near the 182.60 horizontal zone ahead of the 183.00 mark. A sustained strength beyond the latter could lift the GBP\/JPY cross to the 183.60-183.65 region en route to the 184.00 round figure and last week&#8217;s swing high, around the 184.30-184.35 zone.<\/p>\n<p>On the flip side, any meaningful pullback now seems to find decent support near the 181.15-181.10 region. A convincing break below will make the GBP\/JPY cross vulnerable to accelerate the fall further towards the 180.00 mark. Some follow-through selling below the 179.75 area might expose the 179.00 level and the multi-month low, around the 178.35 region set last Thursday.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY daily chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/GBP_JPY (2)-638385647561365835.png\"><\/a><\/p>\n<h2 class=\"fxs_headline_medium\">Technical levels to watch<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: GBP\/JPY gains strong positive traction and spikes to a four-day high after the BoJ decision. The mixed technical setup warrants some caution for bulls and positioning for further gains. A convincing break below the 181.15 support will shift the bias in favour of bearish traders. The GBP\/JPY cross rallies nearly 200 pips from the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,298,257,276,409,255,250,252,247,253,249,308,256,254],"class_list":["post-215417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-crosses","tag-cryptocurrency","tag-currencies","tag-gbpjpy","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=215417"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215417\/revisions"}],"predecessor-version":[{"id":215418,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215417\/revisions\/215418"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/1955"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=215417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=215417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=215417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}