Technical Analysis for GBP/JPY

Technical Analysis for GBP/JPY

Sterling is trading slightly positively versus the Japanese yen, now facing intraday resistance at 151.15 – 50 MA; a confirmed breakout of the resistance will ease the path toward 151.90 supporting the resumption of the upside move. In general, the upside move remains valid with stability above the ascending support targeting 156.75.

Support: 151.00, 150.50, 149.75, 149.25, 148.85
Resistance: 151.15, 151.50, 151.90, 152.40, 153.15

Recommendation Based on the analysis above, we recommend buying the pair with the breakout above 151.90, targeting 153.15 and 154.25 and stop-loss at 4-hour closing below 151.15.