GBP/JPY is taking the bids around 146.70 during early Monday. The quote rose to the highest in a week on Friday but again failed to cross 23.6% Fibonacci retracement level of February to March upside.
With this, 147.00 figure comprising the said Fibonacci retracement level continues to become important upside resistance ahead of looking at 147.40 and 148.00 during further advances.
Assuming the buyers’ dominance past-148.00, 148.40 and 148.90 may offer intermediate halts to the pair’s rally towards 150.00 round-figure.
Meanwhile, 146.00 and 145.70 can serve as immediate support whereas an upward sloping trend-line stretched from March 29, at 145.20, can play its role afterward.
If at all sellers refrain from respecting 145.20, they can aim for 144.90 and 144.60 ahead of looking at 143.85-75 support-zone including lows marked since February 22.
GBP/JPY 4-Hour chart
Trend: Sideways
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