GBP/JPY Technical Analysis: 146.30 continues to be near-term important resistance

Anil Panchal FXStreet

GBP/JPY is on the bids near 146.20 during early Wednesday. The pair recently took a U-turn from 145.95 but is yet to clear a downward sloping trend-line stretched since April 15 that limit the upside around 146.30. Additionally, a horizontal-line connecting low marked on April 12 and 15 also highlights the importance of 146.30 figure.

In a case prices rise above 146.30, 146.75, 147.00 and recent highs around 147.20 could entertain buyers.

Should there be additional upside momentum past-147.20, 148.10 and March month high near 148.90 could become bulls’ favorites.

Given the quote continues to trade beneath 146.30, 146.00 and 145.60 could appear on the chart whereas an ascending trend-line from March 29, at 145.40, might challenge sellers then after.

During the pair’s decline under 145.40, 144.80 and 144.00 could prove their worth as supports.

GBP/JPY hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	146.27
Today Daily Change	11 pips
Today Daily Change %	0.08
Today daily open	146.16

Trends
Daily SMA20	145.69
Daily SMA50	145.43
Daily SMA100	143.53
Daily SMA200	144.63

Levels
Previous Daily High	146.84
Previous Daily Low	146.01
Previous Weekly High	147.02
Previous Weekly Low	144.77
Previous Monthly High	148.88
Previous Monthly Low	143.72
Daily Fibonacci 38.2%	146.32
Daily Fibonacci 61.8%	146.52
Daily Pivot Point S1	145.84
Daily Pivot Point S2	145.51
Daily Pivot Point S3	145.01
Daily Pivot Point R1	146.66
Daily Pivot Point R2	147.16
Daily Pivot Point R3	147.49

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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