GBP/JPY: British pound gapped down; Critical resistance at 147.040

Denis Joeli Fatiaki Independent Analyst

GBP/JPY: British pound gapped down; Critical resistance at 147.040

What is going on now with GBP/JPY?

GBP/JPY: The Pound gapped down in today's opening session and consolidates at 147.040 and 146.640. The pair fell in the last session after failing at 148.340 support but bounced at 147.230 and closed the last session around its 500 EMA at 147.630

Our forecast

GBP/JPY: The Pound has been trying to break at 147.040 since its first trade in today's session but still unsuccessful. The pair currently trades at 146.893 and needs to break and hold above 147.040 to continue to around 147.230. The long-term breakout point to the upside is estimated at 147.630

Support - 146.640 and 146.220

Resistance/ Target - 147.040, 147.230, and147.630

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

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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