Denis Joeli Fatiaki
Independent Analyst
GBP/JPY: British Pound slipped below 144.020 and heads down towards 143.850
What is going on now with GBP/JPY?
GBP/JPY: The British Pound reversed in yesterdays session at 143.325 with a double bottom and broke through 143.590 resistance. The pair pushed its way up to around 144.565 resistance during the European session but failed to continue and fell to 143.850 support. The pair fought back but was rejected at 144.220 resistance and was pushed back to 144.020 support in this mornings session.
Our forecast
GBP/JPY: The British Pound has fallen below 144.020 and currently trades at 143.995 as I compile this report. The pair could continue down to 143.850 and 143.590 support. The Pound needs to maintain trading activities above 144.020 to head back up.
Support/Short-143.850, 143.590, 143.325
Resistance/ Long - 144.020, 144.220, 144.415, and 144.565
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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