- The GBP/JPY is seeing some bullish action this week, breaking out of last week’s highs, but is getting capped off by the 147.00 technical barrier.
- Bullish traders will be looking to make a recovery of momentum above the 146.00 level in order to make a firmer push higher off of the rising trendline on Daily candles.
GBP/JPY Chart, 15-Minute
| Spot rate: | 146.50 |
| Relate change: | Negligible |
| High: | 146.62 |
| Low: | 146.50 |
| Trend: | Sideways to bearish |
| Support 1: | 146.30 (previous day low) |
| Support 2: | 146.00 (major technical level) |
| Support 3: | 145.29 (current week low) |
| Resistance 1: | 146.81 (61.8% Fibo retracement level) |
| Resistance 2: | 147.13 (current week high) |
| Resistance 3: | 147.65 (July 18th swing high) |
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