GBP/JPY Technical Analysis: bears push to take out resistance near 148.00

  • The rising trendline continues to bolster prices higher, but bullish momentum remains capped at last technical top.
  • A positive beat to CPI figures for the UK on Wednesday will see the pair break into new highs.
  • Brexit voting in UK parliament has gone to PM Theresa May so far.

GBP/JPY Chart, 1-Hour

Spot rate: 147.87
Relative change: 0.21%
High: 147.89
Low: 147.52

Trend: Bullish 

Support 1: 147.15 (Wednesday low)
Support 2: 146.52 (current week low)
Support 3: 146.24 (1-week Fibonacci retracement level)

Resistance 1: 148.11 (technical top; two-week high)
Resistance 2: 149.13 (61.8% Fibonacci expansion level)
Resistance 3: 150.00 (previous month's high; major psychological handle)

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