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   “¢   The overnight post-BoE goodish bounce from support marked by the lower end of a short-term descending trend-channel ran out of steam near 200-hour EMA.

   “¢   A subsequent slide to sub-142.00 level, below 50-hour SMA, reinforced the rejection slide, though traders still seemed reluctant to initiate fresh bearish positions.

   “¢   Neutral technical indicators on hourly/daily charts have failed to provide any fresh directional impetus and now seems to suggest indecision over the pair’s near-term trajectory.

   “¢   Hence, it would be prudent to wait for a convincing break through the mentioned range (200-hour EMA-142.00 handle  before traders start placing near-term directional bets.  

GBP/JPY 1-hourly chart

GBP/JPY

Overview:
       Today Last Price:  142.15
       Today Daily change %:  -0.07%
       Today Daily Open:  142.25
Trends:
       Daily SMA20:  142.13
       Daily SMA50:  141.5
       Daily SMA100:  144.1
       Daily SMA200:  144.94
Levels:
       Previous Daily High:  142.63
       Previous Daily Low:  141.12
       Previous Weekly High:  144.73
       Previous Weekly Low:  142.08
       Previous Monthly High:  144.85
       Previous Monthly Low:  131.79
       Daily Fibonacci 38.2%:  142.05
       Daily Fibonacci 61.8%:  141.7
       Daily Pivot Point S1:  141.37
       Daily Pivot Point S2:  140.49
       Daily Pivot Point S3:  139.86
       Daily Pivot Point R1:  142.88
       Daily Pivot Point R2:  143.51
       Daily Pivot Point R3:  144.4