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Forex: GBP/JPY bounces at 142.00 and tests 143.00

FXstreet.com (San Francisco) - After falling around 180 pips from 143.80 in the European session, the Sterling has finally find support at 142.00 against the Japanese yen. At this level, the GBP/JPY has bounced to trade back above the 142.50 level and trade at 142.90 in its way to test the 143.00 frontier.

Currently the GBP/JPY is trading at 142.65, 0.43% negative on the day. The pair is strongly bearish according to the Fxstreet.com forex studies. Indicators such as MACD, CCI and Momentum are bearish while the Stochastic is neutral.

Below the 142.00 level, next supports come at 141.85 (March 25th low) and 141.50 (March 4th and 5th high). On the upside, resistances are at 143.00, 143.80 and 144.50.

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