GBP JPY withdrawal from high in Forex market
7/14/2017 9:07:46 AM
The GBP/JPY cross expanded its recovery move from near two-week lows and improved previous session’s strong gains, although unsuccessful to expand the up-move more beyond the 147.15 handle.
Now trading around 146.73 area, immediate support is fixed near 146.34 level, below which the cross is probable to break below the 146.10 handle towards testing 145.83 horizontal support.
On the other hand, 146.85-147.05 area remains immediate supply zone, which if cleared could lift the cross back towards 147.74 area ahead of yearly tops persistence near 148.05-148.15 area.
FOREX market analysis by FxErvin.