GBP/JPY Technical Analysis: Prints 3.5-month highs in Asia, 1H RSI creates lower highs

GBP/JPY is currently trading at 145.61, having hit a high of 145.96 - a level last seen on Nov. 15.

The relative strength index (RSI) on the hourly chart has diverged in favor of the bears. Therefore, daily lows near 145.30 could soon come into play,

The overall outlook, however, will remain bullish as long as the spot is trading above the ascending (bullish) 10-day MA, currently at 143.80.

Hourly chart

Trend: Bear RSI divergence on 1H

Feb 26, 2019

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