The pair fell short of overtaking the 147.90 resistance on Friday despite the intraday surge to 148.54. Even though the H4 formed a bearish signal it’s not enough to get me interested as I prefer a bearish signal on the Daily time frame, especially with this pair. I will also wait for a possible re-test of the 149.40 area and if the pair moves up to there I will be interested to sell on a bearish signal. Key support for the week is at 145.85 support zone and a close back above 147.90 will likely attract a few bids on the way down. Above 149.40/150 will negate my bearish outlook.

GBPJPY - DAILY 11 MARCH 2018

Source: QUEEN OF POUND (MARYNA)

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