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GBP/JPY Technical Analysis: Ascending triangle break remains in play despite Japan’s upbeat inflation data

GBP/JPY remains under its ascending triangle breakdown area as it trades near 145.50 during early Friday. 

Pair’s break of three-week of upward sloping trend-line confirmed short-term ascending triangle break on Thursday, which in turn signals further downside to 144.85 and 144.60.

However, 144.80/70 region comprising lows marked since February 22 could restrict the quote’s declines past-144.60, if not then 143.00 and 142.50 should gain bears’ attention.

On the flipside, pair’s break of 145.70 support-turned-resistance can help it challenge 146.30 ahead of confronting 147.00 mark including multiple highs and low since March 18 and 23.6% Fibonacci retracement of February 15 to March 14 upside.

If prices rally beyond 147.00, 147.50, 148.10 and 148.55 can offer intermediate halts during the rise towards March month high near 148.85.

GBP/JPY 4-Hour chart

Trend: Bearish

 

USD/JPY remains mostly unchanged around 112.00 as Japan National CPI matched expectaions

USD/JPY trades near 112.00 during early Friday after Japan’s headline inflation number matched estimations with core figure beating the forecasts.
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EUR/JPY Technical Analysis: 125.50 is the level to beat for bears

Having slipped beneath 61.8% Fibonacci retracement of March month decline, the EUR/JPY pair presently trades near 125.80 during early Friday.
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