GBP/JPY Technical Analysis: Slide continues as pair hovers around key 144.00 area

• The main trend continues to point to the downside, but the negative momentum eased as price hit a key support area.  
• The pair traded under 144.00 but never posted a daily close below. So a close significantly under that level could open the doors for a test of 2018 lows and to a slide to 142.50, the next strong support.  
• A rebound could extend to 145.25 the next resistance. Above, relevant levels are 146.50 (21-day SMA) and the 148.20 influence area (downtrend line).  

GBP/JPY Daily chart

Spot rate:                   144.10
High:                         144.42
Low:                          143.79

Trend:                        Bearish

Resistance 1:            145.20 (Jul 27 & 30 low).  
Resistance 2:            146.00
Resistance 3:            146.50

Support 1:                143.75 (Jun & Aug low)
Support 2:                143.15/20 (May low)
Support 3:                142.50