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5 Jul 2018
GBP/JPY Technical Analysis: Pound looking for lift from 146.00 amidst a bullish triangle
- Sterling in a bullish triangle against the Yen as higher lows squeeze the pair against current key resistance.
- Hourly indicators are middling as the pair loses directional momentum.
- Traders will want to wait for a confirmation following a break to either side of the triangle.
GBP/JPY Chart, 1-Hour
| Spot rate: | 146.17 |
| Relative change: | 0.14% |
| High: | 146.21 |
| Low: | 145.82 |
| Trend: | Bearish to flat |
| Support 1: | 145.56 (previous day low) |
| Support 2: | 145.18 (current week low) |
| Support 3: | 143.77 (previous week low; technical bottom) |
| Resistance 1: | 146.48 (current week high) |
| Resistance 2: | 148.11 (June high) |
| Resistance 3: | 150.00 (May high; key level) |