The GBP/JPY hourly chart is eyeing an inverse head-and-shoulders breakout, having found acceptance above the 50-hour and 100-hour moving averages (MAs). The MAs have bottomed out or shed bearish bias and the RSI has moved above 50.00 (in bullish territory). Currently, the GBP/JPY is trading at 146.25 and a move above the neckline resistance of 146.45 would allow a rally to 147.44. Hourly chart Spot Rate: 146.25 Daily High: 146.50 Daily Low: 146.15 Trend: Bullish Resistance R1: 146.45 (neckline hurdle) R2: 146.88 (resistance of July 18 low on the hourly chart) R3: 147.02 (200-hour MA) Support S1: 146.11 (100-hour MA + 50-hour MA) S2: 145.77 (Support of July 25 low on the hourly chart) S3: 145.46 (July 23 low) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia: Wealth effects still difficult to pinpoint – Westpac FX Street 5 years The GBP/JPY hourly chart is eyeing an inverse head-and-shoulders breakout, having found acceptance above the 50-hour and 100-hour moving averages (MAs). The MAs have bottomed out or shed bearish bias and the RSI has moved above 50.00 (in bullish territory). Currently, the GBP/JPY is trading at 146.25 and a move above the neckline resistance of 146.45 would allow a rally to 147.44. Hourly chart Spot Rate: 146.25 Daily High: 146.50 Daily Low: 146.15 Trend: Bullish Resistance R1: 146.45 (neckline hurdle) R2: 146.88 (resistance of July 18 low on the hourly chart) R3: 147.02 (200-hour MA) Support S1: 146.11 (100-hour MA… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
