Currency Analyst since 2010

GBP/JPY close to important support

GBP/JPY is another pair which is trading close to the bottom of the daily Ichimoku Cloud.

Analysts at RBC say that a close below 147.60 (support line from November) will be a sign of bearish reversal and trigger a decline towards 145.88 (March high), 145.09 (61.8% Fibo of the February-May advance) and 142.33. Resistance lies at 149.55 and 151.94. Only a daily close above 153.87 will mean that the picture’s becoming bullish.

Chart. Daily GBP/JPY

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