LeoPrime Daily Market Analysis

GBPJPY consolidating since 1st week of February

GBPJPY struggling in a strong region at 142.00-142.500 which is unbroken since 5th of January. Though bears tried to break the Channel aggresively on 7th January, bulls had a equal strength, trapping bears in the indecision region.
Consolidating in the 0.50 Fibonacci Level with False breakouts on the downside, it is expected for a Bearish movement only if the channel breaks downside for further movement till 140.800. On the other side, if bulls try to breakthrough the resistance , they have chance moving up to the February 1st week high.

Daily open: 141.869
Daily Last high: 142.507
Daily Last Low: 141.846
Daily current growth: +0.14%