Technical analysis of GBP/JPY for June 29, 2018

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If we look at the 4-Hour Charts of the GBP/JPY pair, we will see clearly that this pair already moves in Bearish bias, this already indicated by the price moving in a down slope channel and bellow the Exponential Moving Average Periode 200 but seems in a few days ahead as long as they not break out and close above the 146.61, the GBP/JPY pair will continue their downtrend to test their nearest Support level at 143.74 as their first target and the 143.17 as their secondary target.

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The material has been provided by InstaForex Company - www.instaforex.com