The GBP/JPY has charted a narrowing price range, also known as the pennant pattern, over the last seven days. A break above the pennant resistance, currently seen at 148.81, would signal a continuation of the rally from the Sept. 6 low of 142.61 and could yield a re-test of the recent high of 149.72. A pennant breakdown, if confirmed, would signal a bullish-to-bearish trend change and may yield a drop below 147.00. Hourly Chart Spot Rate: 148.55 Daily High: 148.60 Daily Low: 148.16 Trend: Neutral Resistance R1: 148.81 (pennant hurdle) R2: 149.10 (Sept. 26 high) R3: 149.72 (Sept. 21 high) Support S1: 148.21 (200-day MA) S2: 147.60 (previous day’s low) S3: 146.95 (Sept. 24 low) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Italy defies EU, hikes budget deficit target to 2.4 percent of GDP FX Street 4 years The GBP/JPY has charted a narrowing price range, also known as the pennant pattern, over the last seven days. A break above the pennant resistance, currently seen at 148.81, would signal a continuation of the rally from the Sept. 6 low of 142.61 and could yield a re-test of the recent high of 149.72. A pennant breakdown, if confirmed, would signal a bullish-to-bearish trend change and may yield a drop below 147.00. Hourly Chart Spot Rate: 148.55 Daily High: 148.60 Daily Low: 148.16 Trend: Neutral Resistance R1: 148.81 (pennant hurdle) R2: 149.10 (Sept. 26 high) R3: 149.72 (Sept. 21 high)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
