- The GBP/JPY pair is tracing its way back towards 144.00 as risk appetite appears to be staging a recovery through the broader markets.
- The Sterling has been given a mild boost after PM May supported the BoE’s Mark Carney retaining his position at the helm of the UK central bank to the full end of his eight-year term.
- The pair still remains steeply off of last week’s high, and this week’s bottom marks in an inflection zone that could erode support for a move higher.
GBP/JPY Chart, 15-Minute
| Spot rate: | 143.44 |
| Relative change: | 0.21% |
| High: | 143.45 |
| Low: | 143.14 |
| Trend: | Bullish correction |
| Support 1: | 143.14 (current day low) |
| Support 2: | 142.59 (current week low) |
| Support 3: | 142.00 (major technical level) |
| Resistance 1: | 143.72 (current week high) |
| Resistance 2: | 144.50 (61.8% one-week Fibo retracement level) |
| Resistance 3: | 145.69 (previous week high) |
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