Technical analytics

GBP/JPY

The pound gave up its recent highs and edged lower on Monday. The spot started the day with a gap downwards. The pound continued its downward trajectory afterwards. The currency pair regained 142.00 in the morning and advanced down to 141.60 by noon. The resistance lies at 142.00, the support is at 141.00.

If a bearish tone persists we expect sellers’ further extension towards 141.00. A break below the level will suggest its further weakening towards 140.00.