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27 Jul 2018
GBP/JPY Technical Analysis: Sterling middling in a rough range
- The Sterling is stuck in a rough sideways pattern against the safe-haven Yen and is currently knocking into an intraday support zone, though swing levels abound and an exit from the current ranges will need a confirmation before deciding directionality.
- Brexit headlines have been thin since Prime Minister Theresa May took over negotiations for a smooth exit from the EU, but a lack of forward momentum on negotiations recently has been a weight on Pound.
GBP/JPY Chart, 15-Minute
| Spot rate: | 145.75 |
| Relative change: | Negligible |
| High: | 145.80 |
| Low: | 145.71 |
| Trend: | Flat |
| Support 1: | 145.45 (previous week low) |
| Support 2: | 145.17 (July 2nd swing low) |
| Support 3: | 143.76 (late June swing low) |
| Resistance 1: | 146.50 (current week high) |
| Resistance 2: | 147.83 (61.8% Fibo retracement level) |
| Resistance 3: | 149.30 (one month high) |