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  • The Sterling looks to have made a temporary bottom on the Guppy pair from 145.25, but failure to break beyond the previous swing high level near 146.40 will see a continuation of the ongoing bearish trend.
  • June’s lows sit near 143.75, with the current year’s lows not far away at 143.20, and GBP buyers have their work cut out for them to make bullish work in a week that sees both BoJ and BoE action slated for the calendar.

GBP/JPY Chart, 15-Minute

Spot rate:   145.47
Relative change: 0.04%
High: 145.63
Low:   145.29
Trend:   Flat to bullish
Support 1:   145.29 (current day low)
Support 2:   145.26 (previous week low)
Support 3:   144.68 (June 25th swing low)
Resistance 1: 145.70 (Friday high)
Resistance 2:   146.51 (previous week high)
Resistance 3:   146.80 (38.2% Fibo retracement level)