Technical Analysis for GBP/JPY

Technical Analysis for GBP/JPY


The pair dropped meeting expectations of the bearish correction. Stability below Linear Regression Indicators supports extending negativity, through which the pair could be on its way to test the uptrend's key support approximately around 143.15. Trading below 148.25 keeps potential correction. As for today's trading, the pair must settle below 146.50 in order for forecasts to stand valid.

The trading range expected for today is between the key support at 143.15 and the key resistance at 147.70

The short-term trend is downside targeting 112.00 as far as 150.00 remains intact

Support: 145.00, 144.65, 144.15, 143.80, 143.15
Resistance: 145.80, 146.00, 146.50, 146.85, 147.40

Recommendation Based on the above graph and explanation, we believe selling the pair below 145.50 targeting 145.00, 144.65 and 143.15 and stop-loss by four-hour closing above 146.50 would be suitable