7 Sep 2018
GBP/JPY Technical Analysis: dead cat bounce on Yen flows
- The Guppy took a dive early in Asia trading as the Yen regains popularity on risk flows.
- The week's earlier surge on Brexit hopes has faded as traders resume being concerned about trade wars.
- 142.50 has become a supporting region at the week's bottom.
GBP/JPY Chart, 15-Minute
| Spot rate: | 142.81 |
| Relative change: | -0.24% |
| High: | 143.17 |
| Low: | 142.61 |
| Trend: | Bearish |
| Support 1: | 142.61 (current day low) |
| Support 2: | 142.00 (major technical level) |
| Support 3: | 140.67 (three-week low) |
| Resistance 1: | 143.42 (200-hour EMA) |
| Resistance 2: | 144.24 (previous day high) |
| Resistance 3: | 144.96 (current week high) |