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Forex: GBP/JPY falls below 149.00 level

FXstreet.com (Barcelona) - The GBP/JPY has been in a bit of a slump Monday, despite a failed attempt at the upside stalled at 150.43 earlier today during European trading. Since then however, the cross has edged lower to settle at 148.84/87 in these moments, down -0.55% thus far.

According to the ICN.com, analyst team, ““The more recent GBP/JPY completion of a two month triangle pattern at 144.65 has driven the latest leg higher and 152.25, the October 2009 peak, is now being breached to open the 2009 year high at 163.05 next. Just above here lies 168.15, the 38.2% retracement level of 251.10-116.85 decline”, commented the Investment Research team at Danske Bank.

The ICN.com analyst team calculates the next corrective measures of support at 149.50, ahead of 148.50, and finally 147.90. On the ascension, the GBP/JPY will encounter means of resistance at1 50.60, then 151.65, and ultimately 152.65.

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