GBP/JPY Technical Analysis: Sellers keep lurking around 143.80/70

Repeated failures to slip beneath horizontal support and oversold RSI favor the pair’s pullback moves.
10-day old trend-line resistance can cap the recovery.

Anil Panchal FXStreet

GBP/JPY is on the bids around 144.15 ahead of the UK open on Friday. The pair again bounced off the 143.80/70 support-zone including lows since February 22.

Considering the recent bounce and the oversold conditions of 14-bar relative strength index (RSI), the quote is more likely to revisit 144.25/30 immediate resistance. However, a downward sloping trend-line since mid-April could question the recovery around 144.60.

Given the pair’s ability to cross 144.60, 145.00, 145.50 and 146.30 can entertain buyers while 147.00/05 could challenge them afterward.

On the downside break of 143.70, 143.00 and 142.45 could quickly appear on the chart whereas 142.00 could flash on sellers’ mind then after.

Additionally, 141.50 and 141.00 might prove their worth as supports past-142.00 and prior to 140.00 round-figure.

GBP/JPY 4-Hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	144.16
Today Daily Change	12 pips
Today Daily Change %	0.08%
Today daily open	144.04

Trends
Daily SMA20	145.58
Daily SMA50	145.84
Daily SMA100	143.57
Daily SMA200	144.53

Levels
Previous Daily High	144.9
Previous Daily Low	143.76
Previous Weekly High	147
Previous Weekly Low	145.13
Previous Monthly High	148.88
Previous Monthly Low	143.72
Daily Fibonacci 38.2%	144.2
Daily Fibonacci 61.8%	144.47
Daily Pivot Point S1	143.57
Daily Pivot Point S2	143.1
Daily Pivot Point S3	142.43
Daily Pivot Point R1	144.7
Daily Pivot Point R2	145.37
Daily Pivot Point R3	145.84

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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