Technical Talk:GBP/JPY 01-31-2019

GBP/JPY Technical Analysis: Focus on today’s close
Our preference: as long as 147.19 is support look for 148.69.
Alternative scenario: below 147.19, expect 146.64 and 146.31..

Comment:
GBP/JPY’s rally from the Feb. 15 low of 141 sees to have run out of steam,
as the pair created a doji candle on the daily chart – a sign of bullish indecision.

A close above 148.27 (Doji high) would imply a continuation of the rally from the low of 141.00.

However, a close below 146.98 (Doji low) would signal a short-term bullish-to-bearish trend change.

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