Denis Joeli Fatiaki
Independent Analyst
GBP/JPY: British Pound consolidates at 145.350 and 144.475
What is going on now with GBP/JPY?
GBP/JPY: The British Pound made some improvement in Friday's session by defending its position at 144.475 support.
The pair consolidated right through Friday's session between 145.350 and 144.475 and closed the trading session at 144.765 just above 144.475 support.
Our forecast
GBP/JPY: The British Pound could continue to consolidate in today's session if it remains within the current price range. The Pound could head back up to re-test 145.350 resistance if it remains above 144.475. The breakout point to the upside is estimated at 145.530 and to the downside is at 144.475.
Support/ Short-144.475, 144.150, and 143.530
Resistance/ Long - 145.350, 145.850, and 146.220
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the GBP/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the GBP/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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