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GBP/JPY: pair to test the nearest support

GBP/JPY: pair to test the nearest support

Information is not investment advice

There's a 'Head & Shoulders' pattern, which has been confirmed. Thus, the pair is likely going to test the nearest support at 145.98. The subsequent pullback from this level and from one of the Moving Averages lines could lead to another bullish rally. In this case, we should watch the next resistance at 148.78 as an intraday target.

6-3-2019-GBP-JPY-H4.png

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AUD/JPY is in the downtrend since the start of the year. It was capped on the upside by all the three important moving averages on the D1.

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