GBP/JPY Technical Analysis: Guppy looking to push off from 145.25

The Sterling looks to have made a temporary bottom on the Guppy pair from 145.25, but failure to break beyond the previous swing high level near 146.40 will see a continuation of the ongoing bearish trend.
June's lows sit near 143.75, with the current year's lows not far away at 143.20, and GBP buyers have their work cut out for them to make bullish work in a week that sees both BoJ and BoE action slated for the calendar.

Joshua Gibson FXStreet

GBP/JPY Chart, 15-Minute

Spot rate:	145.47
Relative change:	0.04%
High:	145.63
Low:	145.29

Trend:	Flat to bullish

Support 1:	145.29 (current day low)
Support 2:	145.26 (previous week low)
Support 3:	144.68 (June 25th swing low)

Resistance 1:	145.70 (Friday high)
Resistance 2:	146.51 (previous week high)
Resistance 3:	146.80 (38.2% Fibo retracement level)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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