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GBP/JPY Technical Analysis: dead cat bounce on Yen flows

  • The Guppy took a dive early in Asia trading as the Yen regains popularity on risk flows.
  • The week’s earlier surge on Brexit hopes has faded as traders resume being concerned about trade wars.
  • 142.50 has become a supporting region at the week’s bottom.

GBP/JPY Chart, 15-Minute

Spot rate: 142.81
Relative change: -0.24%
High: 143.17
Low: 142.61
   
Trend: Bearish
   
Support 1: 142.61 (current day low)
Support 2: 142.00 (major technical level)
Support 3: 140.67 (three-week low)
   
Resistance 1: 143.42 (200-hour EMA)
Resistance 2: 144.24 (previous day high)
Resistance 3: 144.96 (current week high)

 

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