(GBP/JPY)

The pound inclined against the Japanese yen last Friday after it failed to breach the key support level at 205.45 to reach to the key resistance level at 207.73. The technical indicators reflect the pair's tendency to head to the downside today with reversal patterns formed with negative momentum and high levels of volume especially that the pair resides in an overbought area.
 

 

Support207.00206.78206.36206.11205.70
Resistance207.55207.80208.10208.41208.68

Recommendation