- The Sterling looks to have made a temporary bottom on the Guppy pair from 145.25, but failure to break beyond the previous swing high level near 146.40 will see a continuation of the ongoing bearish trend.
- June’s lows sit near 143.75, with the current year’s lows not far away at 143.20, and GBP buyers have their work cut out for them to make bullish work in a week that sees both BoJ and BoE action slated for the calendar.
GBP/JPY Chart, 15-Minute
| Spot rate: | 145.47 |
| Relative change: | 0.04% |
| High: | 145.63 |
| Low: | 145.29 |
| Trend: | Flat to bullish |
| Support 1: | 145.29 (current day low) |
| Support 2: | 145.26 (previous week low) |
| Support 3: | 144.68 (June 25th swing low) |
| Resistance 1: | 145.70 (Friday high) |
| Resistance 2: | 146.51 (previous week high) |
| Resistance 3: | 146.80 (38.2% Fibo retracement level) |
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