GBP/JPY cannot overtake 149.00 barrier

FXstreet.com (New York) - The GBP/JPY technical cross bottomed out at the 148.28 region earlier today, only to recover steadfastly during US trading Wednesday.

GBP/JPY in for a bullish rebound

According to the Technical Analyst Team at ICN.com, “The GBP/JPY pair recorded a low just above 148.15-support level, to retrace its losses. We remain on the bullish side of the trade, anticipating a bullish rebound so long as 149.90-resistance area is holding.”

Following the recent recovery, the GBP/JPY foreign exchange rate is still residing in negative territory at 148.81, still off -0.20% in these moments. The Mataf.net analyst team has identified supports at 148.66, then 148.12, and finally 147.65