- The GBP/JPY's pullback from the highs of 149.70 seems to have run out of steam at the 200-hour moving average (MA) support.
- The bullish divergence of the relative strength index (RSI) and the bull cross on the MACD, as seen in the hourly chart, indicates scope for a re-test of 5-day moving average (MA), currently located at 147.78.
Spot Rate: 147.27
Trend: Mildly bullish
R1: 147.61 (23.6% Fib R of Friday's drop)
R2: 147.78 (5-day moving average)
R3: 147.94 (100-hour moving average)
S1: 147.15 (Aug. 1 high)
S2: 146.97 (10-day moving average)
S3: 145.96 (38.2% Fib R 138.90/149.72)