GBP/JPY Technical Analysis: 146.30 offers intermediate halt inside ascending triangle

Anil Panchal FXStreet

GBP/JPY trades near 146.50 during early Tuesday. The pair has been clubbed in a small range between 146.30 and 147.00 since Friday, not to forget more than two-month-old ascending triangle formation.

Should the pair slips beneath 146.30 support, 146.00 and 145.60 are likely following supports to gain market attention.

However, quote’s downside under 145.60 could be challenged by the triangle support, near 145.40, a break of which could open the doors for additional south-run to 144.80 and 144.00 and 143.00 consecutive rest-points.

Meanwhile, 146.75 may become immediate resistance ahead of 147.00 and recent highs around 147.20.

If buyers rule trade sentiment past-147.20, 148.10 and March month high near 148.90 might flash on their radar.

GBP/JPY hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	146.55
Today Daily Change	-18 pips
Today Daily Change %	-0.12%
Today daily open	146.73

Trends
Daily SMA20	145.77
Daily SMA50	145.36
Daily SMA100	143.52
Daily SMA200	144.64

Levels
Previous Daily High	147
Previous Daily Low	146.35
Previous Weekly High	147.02
Previous Weekly Low	144.77
Previous Monthly High	148.88
Previous Monthly Low	143.72
Daily Fibonacci 38.2%	146.75
Daily Fibonacci 61.8%	146.6
Daily Pivot Point S1	146.39
Daily Pivot Point S2	146.04
Daily Pivot Point S3	145.73
Daily Pivot Point R1	147.04
Daily Pivot Point R2	147.35
Daily Pivot Point R3	147.69

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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