FX.co ★ Technical analysis of GBP/JPY for July 24, 2018

If we look at the 4-hour chart on GBP/JPY, we know that the price has changed its direction to bearish since this pair had broken out and closed below the 21-period Moving Average. At present, this pair is going to test the next Fibonacci 78.6% support at 144.94 as long as the price has not made the upward correction, has not breached and closed above the 146.64. Thus, this pair is still trading with a bearish bias. (Disclaimer)