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9 Jul 2018
GBP/JPY Technical Analysis: Sterling opens the week bullish, hesitates on Brexit resignations
- Sterling on the rise against the safe-haven Yen, though Monday's early action on the slide.
- Key UK personnel involved in Brexit are resigning from their positions for the new week as Brexiteer's revolt against PM May's new proposal.
- Bullish momentum to remain capped until new headlines soothe Pound long concerns.
GBP/JPY Chart, 1-Hour
| Spot rate: | 146.79 |
| Relative change: | -0.16% |
| High: | 147.06 |
| Low: | 146.70 |
| Trend: | Bullish |
| Support 1: | 146.34 (38.2% Fibo retracement level) |
| Support 2: | 146.03 (Friday low) |
| Support 3: | 145.17 (previous week low) |
| Resistance 1: | 147.06 (current day high) |
| Resistance 2: | 147.98 (June 2018 high) |
| Resistance 3: | 150.00 (key technical ceiling) |