Overview:
GBP/JPY is consolidating with bullish bias, as markets awaited monetary policy announcements from BOJ, BOE, and ECB. GBP/JPY is undermined by negative global risk sentiment; Japan exporter sales. But GBP/JPY losses tempered by demand from Japan importers; caution ahead of Friday's U.S. Non-farm payrolls report. Daily chart is negative-biased as MACD and stochastics are bearish, although latter is at oversold; five-day moving average is below 15-day MA and declining.
Recommendation:
Buy above 143.5 with upside targets at 145.95 and 146.5.
Resistance levels:
R1 - 145.95
R2 - 146.5
R3 - 147
Alternative scenario:
Sell below 143.5 with downside targets at 142.9 and 142.3.
S1 - 142.9
S2 - 142.3
S3 - 141.6
