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