GBP/JPY Technical Analysis: Could see a brief drop to 147.00

• The 15-minute chart shows a bearish price-relative strength index (RSI) divergence.
• A gravestone doji is also seen, adds credence to bearish RSI divergence and indicates scope for a minor pullback to 147.00.
• The pair has also breached the ascending trendline.

15-minute chart

Spot Rate: 147.32

Daily High: 147.46

Daily Low: 146.97

Trend: Bearish

Resistance

R1: 147.48 (resistance as per 4-hour chart)

R2: 148.18 (resistance as per 4-hour chart)

R3: 148.41 (4-hour 200MA)

Support

S1: 147.08 (4-hour 100MA)

S2: 146.97 (daily low)

S3: 146.24 (ascending 5-day MA)