GBP/JPY: Moving Averages acted as support

GBP/JPY: Moving Averages acted as support

Information is not investment advice

The Moving Averages have acted as support, so there's a bullish 'Thorn' pattern. In this case, the pair is likely going to test the nearest resistance at 147.80 - 148.56, which means we could have a new local high soon. If any bearish pattern forms next, there'll be time for a downward correction towards the closest support at 145.98.

13-3-2019-GBP-JPY-H4.png

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