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  • The GBP/JPY is seeing some bullish action this week, breaking out of last week’s highs, but is getting capped off by the 147.00 technical barrier.
  • Bullish traders will be looking to make a recovery of momentum above the 146.00 level in order to make a firmer push higher off of the rising trendline on Daily candles.

GBP/JPY Chart, 15-Minute

Spot rate:   146.50
Relate change:   Negligible
High:   146.62
Low:   146.50
Trend:   Sideways to bearish
Support 1:   146.30 (previous day low)
Support 2:   146.00 (major technical level)
Support 3:   145.29 (current week low)
Resistance 1:   146.81 (61.8% Fibo retracement level)
Resistance 2:   147.13 (current week high)
Resistance 3:   147.65 (July 18th swing high)