Currently the GBP/JPY is trading at 127.80, 0.55% below opening price action. The pair shows a Strongly Bearish trend according to the FXstreet.com Forex Studies. In the 15 minutes time frame, the CCI, Momentum and ROC points bullish, while in the 1-hour chart, CCI, MACD, Momentum and ROC are bearish.
As for Resistance, GBP/JPY could face levels at 128.00, 128.40 (MA 200 hours) and 128.85. ON the downside, supports come at 127.40/50 zone, 127.00 and 126.70.
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