GBP/JPY Technical Analysis: Sterling working towards 146.00 as the Yen cools off

• Thursday’s whipping marks in a new technical high acting as a barrier.
• Market sentiment leaves the Yen walking backwards to end the week.
• The week’s bullish momentum has been halting, watch for turnarounds near entry points.

GBP/JPY Chart, 15-Minute

Spot rate:             145.86
Relative change: 0.21%
High:                    145.89
Low:                     145.45

Trend:                   Bullish

Support 1:            145.45 (current day low)
Support 2:            144.59 (June 21st low)
Support 3:            144.38 (current week low)

Resistance 1:       146.21 (June 21st high)
Resistance 2:       147.00 (major level; current week high)
Resistance 3:       147.97 (previous week high)