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  • GBP/JPY is grinding higher and is about to challenge June’s high at the 148.10 level.
  • A breakout above 148.10 can lead to an acceleration towards 150.00, June 7 swing high.
  • On the other hand, a rejection at 148.10 can lead to a rotation back towards the 146.00 figure.

GBP/JPY 15-minute chart  

Spot rate:                  147.63
Relative change:        0.46%    
High:                         147.79
Low:                          146.80

Trend:                         Bullish

Resistance 1: 148.10 June’s high
Resistance 2: 150.00 June 7 swing high
Resistance 3: 150.69 April 20 swing low

Support 1: 147.15 intraday swing low
Support 2: 146.36 supply/demand level
Support 3: 147.15 supply/demand level
Support 4: 146.00 figure
Support 5: 145.20 July 2 low
Support 6: 144.59 June 21 low
Support 7: 143.20 current 2018 low