FXstreet.com (Barcelona) - The Sterling has find support against the Yen at 147.10 in the European morning after falling 200 pips in the Asian session from intra-day high at 149.10. The pair has broken 147.70/1.4910 range that GBP/USD trades on consolidation mode after the Wednesday and Thursday bullish movement.

Currently the pair is trading around 147.50/60, close to MA55 hourly chart level, 0.55% above today's opening price action at 148.40.

Rajoo C, analyst at Precise Trader, comments: The  Price is trading  Above the  Monthly,  marginally below  the  Weekly  open and  closed  well above  the Res  Zone 1. GBP is mildly  Weak  and JPY is  Flat  , so  GBP/JPY  is expected to be choppy until one of the cross breakout. The Price on the  Hourly is in a Range trading  and expect a choppy session, the price should not trade  below  14770-1485 to maintain the bullish outlook . On the 5 min is also  Choppy  with no clear patterns. The Bulls pay attention to 14790-14675  levels while the Bears pay attention to 14905-15025.FED Chairman Speaks Today.  Conservative Traders:  Be SIDELINED or strictly trade only at Precise Traders Report levels.    Aggressive Traders :  Be SIDELINED  until the signals are clear.

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