GBP/JPY Technical Analysis: Sterling working towards 146.00 as the Yen cools off

Thursday's whipping marks in a new technical high acting as a barrier.
Market sentiment leaves the Yen walking backwards to end the week.
The week's bullish momentum has been halting, watch for turnarounds near entry points.

Joshua Gibson FXStreet

GBP/JPY Chart, 15-Minute

Spot rate: 145.86
Relative change: 0.21%
High: 145.89
Low: 145.45

Trend: Bullish

Support 1: 145.45 (current day low)
Support 2: 144.59 (June 21st low)
Support 3: 144.38 (current week low)

Resistance 1: 146.21 (June 21st high)
Resistance 2: 147.00 (major level; current week high)
Resistance 3: 147.97 (previous week high)

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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