GBP/JPY Technical Analysis: Post-BoE rebound lacks any follow-through

   •  The cross extended overnight downfall from 50% Fibonacci retracement level of the 149.04-145.27 recent downfall and the post-BoE uptick quickly ran out of steam near 200-period SMA on the 4-hourly chart.

   •  Technical indicators have started losing positive momentum and thus, increase prospects for a follow-through downfall towards testing a support marked by a short-term ascending trend-channel formation. 

GBP/JPY 4-hourly chart

Spot rate: 146.00
Daily High: 146.67
Daily Low: 145.70
Trend: Neutral

Resistance
R1: 146.37    (200-period SMA H1)
R2: 146.67 (current day swing high)
R3: 147.00 (round figure mark)

Support
S1: 145.70 (current day swing low)
S2: 145.40 (ascending trend-channel support)
S3: 145.00 (round figure mark)