GBP/JPY Technical Analysis: Ramping up trade war sends Sterling down against safe haven Yen

• Risk aversion  takes a chunk out of markets as the US threatens yet more tariffs on China.
• Sterling slips into fresh two-week lows as traders pile into the Yen.
• GBP looks set for a further slide if markets don’t recover their sentiment.

GBP/JPY Chart, 1-Hour

Spot rate:               146.12
Relative change: -0.16%
High:                     146.46
Low:                      145.89

Trend:                   Bearish

Support 1:            145.89 (current day low)
Support 2:            145.07 (61.8% retracement level)
Support 3:            143.19 (May technical bottom)

Resistance 1:       146.46 (current day high)
Resistance 2:       147.01 (current week high; major figure)
Resistance 3:       147.97 (previous week high)