GBP/JPY trades near 146.50 during early Tuesday. The pair has been clubbed in a small range between 146.30 and 147.00 since Friday, not to forget more than two-month-old ascending triangle formation.
Should the pair slips beneath 146.30 support, 146.00 and 145.60 are likely following supports to gain market attention.
However, quote’s downside under 145.60 could be challenged by the triangle support, near 145.40, a break of which could open the doors for additional south-run to 144.80 and 144.00 and 143.00 consecutive rest-points.
Meanwhile, 146.75 may become immediate resistance ahead of 147.00 and recent highs around 147.20.
If buyers rule trade sentiment past-147.20, 148.10 and March month high near 148.90 might flash on their radar.
GBP/JPY hourly chart
Trend: Pullback expected
Share
