GBP/JPY Technical Analysis: risks falling back to 147.00 handle

   •  The ongoing recovery move stall near a precious strong support now turned resistance, marking an upward sloping trend-line extending from lows touched in August 2017 through March/May 2018 lows.
   •  A convincing move above the mentioned hurdle should pave the way for an extension of the momentum towards important moving averages confluence (100 & 200-day SMAs) near the 149.65-75 region.
   •  With Brexit risk back on the table, the cross could correct and fall back to test a historic support near the 147.00 handle.

GBP/JPY daily chart

Spot Rate: 147.85
Daily Low: 147.50
Trend: possibly turning bearish again

Resistance
R1: 148.17 (previous support now turned resistance)
R2: 148.69 (R2 daily pivot-point)
R3: 149.28 (50-day SMA)

Support
S1: 147.57 (daily pivot-point)
S2: 147.00 (round figure mark)
S3: 146.68 (100-period SMA H1)