GBP/JPY Technical Analysis: Guppy near 146.00 gathering momentum for next directional move

• GBP/JPY is trading inside Monday’s range as GBP/JPY is trying to find what is the next directional move. GBP/JPY is set to end Tuesday with a doji bar much like Monday, suggesting indecision.
• GBP/JPY is trading just a little above Tuesday’s open, currently capped by the 146.00 figure and the 50-period simple moving average.  
• GBP/JPY bears need to break below 145.20 July 2 low while bulls need a breakout above the 146.50 current weekly high and the 146.65 swing high.  

GBP/JPY 15-minute chart

Spot rate:                  145.89
Relative change:        0.11%    
High:                         146.39
Low:                          145.28

Trend:                        Neutral

Resistance 1: 146.00 figure
Resistance 2: 146.65 swing high
Resistance 3: 147.15 supply level
Resistance 4: 148.10 June’s high

Support 1: 146.38 supply level
Support 2: 145.20 July 2 low
Support 3: 144.59 June 21 low
Support 4: 143.20 current 2018 low

GBP/JPY Daily chart