GBP/JPY is trading in a very narrow range between 142.82 and 143.38. We expect a final move to just above 143.38 and then a turn lower through support at 142.82 for the next downside pressure to 140.81 on the way lower to 139.25.
Short-term support at 142.82 is key for the next larger mover.
R3: 144.53
R2: 143.91
R1: 143.71
Pivot: 143.36
S1: 143.09
S2: 142.82
S3: 142.65
Trading recommendation:
We will sell GBP at 143.65 or upon a break below 142.82
