138,93. GBP JPY is in an uptrend supported by 1H exponential moving averages. GBP JPY is in a consolidation after the last bullish movement. There is an horizontal range between 138,50 and 140,80. Support and resistance are given by Bollinger bands. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The price should find a support above 138,00 (93 pips). If the support is broken then the target will be 135,00 (393 pips).
We are waiting for a break of the support to take a short position.
140,10 - 141,40
138,00 - 135,00