Technical Analysis for GBP/JPY

Technical Analysis for GBP/JPY

The GBP/JPY pair has fell under the influence of a Rising Wedge Pattern, forcing to conduct a bearish correction that reached 61.8% Fibonacci of the bullish wave that commenced from 147.60 to 154.63. That indicates the price's resumption of the overall uptrend however, it is required to breach 153.00 in order to confirm the proposed bullishness. We will stand aside to see how the pair behaves around the support 151.95 and the resistance 153.00.

Support: 151.95, 151.10, 150.30, 149.70, 149.20
Resistance: 152.30, 153.00, 153.45, 153.95, 154.35

Recommendation Based on the analysis above, we recommend neutrality until signs for a specific direction appear

Technical Analysis for EUR/JPY

The EUR/JPY pair is still confined within levels of 129.70 and 130.85, which help determine the pair's intraday direction. It compels us to stand on the sidelines waiting to see variations in the price movement; if the support is broken the price would target areas of 128.80, while breaching 132.05.

Support: 129.70, 128.80, 127.90, 127.40, 127.00
Resistance: 130.85, 131.40, 131.95, 132.40, 132.70

Recommendation Based on the analysis above, we recommend neutrality until signs for a specific direction appear.