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Forex: GBP/JPY back to mid 142s after testing 143.00

Despite the Sterling is trading lower today, against the Japanese Yen the pound was trading higher on the back of the renewed weakness surrounding the Japanese yen but the sentiment wasn't strong enough as the GBP/JPY tested 143.00 level but failed to consolidate gains above this number and it fell back to the 142.30 price.

Currently, the GBP/JPY is trading at 142.35, 0.78% above opening price. MACD, CCI and Momentum are bullish while the Stochastic is bearish in the 1-hour chart. Next resistance lies at 143.00 MA21d) and then 143.35 (high Feb.19). On the downside, a breach of 141.45 (high Mar.6) would aim for 140.60 (low Mar.5) and then 140.49 (Tenkan Sen line).

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