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Forex pairs in this Article » GBP/JPY (Barcelona) - Renewed weakness surrounding the sterling plus a better mood in the risk aversion have combined to drag the cross to the boundaries of the key support at 143.00, although the pair has later managed to gain some traction and recover some pips, actually in the proximities of 143.40

I.Spivak, Currency Strategist at DailyFX, argues "Prices took out resistance at 144.03& exposing the 145.00 figure and the 50% level at 145.45. Negative RSI divergence warns of ebbing bullish momentum however, hinting a reversal lower may be ahead. A turn back below 144.03 targets 142.25".

At the moment GBPJPY is down 0.38% at 143.38 facing the next support at 143.05 (low Jan.11) followed by 142.70 (high Jan.2) and then 142.05 (high Jan.7).
On the upside, a surpass od 144.35 (high Jan.11) would expose 145.20 (high Apr.30 2010) and finally 145.38 (61.8% of 2009-2011 drop).
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