GBP/JPY Technical Analysis: breaks below an ascending trend-line support ahead of BoE

   •  Overnight rebound faces rejection ahead of 100-hour SMA and the bearish momentum drags the cross below a short-term ascending trend-line support on the 1-hourly chart. 

   •  A follow-through weakness below Wednesday's swing low is likely to pave the way for an extension of the downfall back towards YTD lows set in May.

   •  The latest BoE monetary policy decision would help determine the near-term trajectory amid mixed short-term technical indicators.

GBP/JPY 1-hourly chart

Current Price: 144.66
Daily High: 145.69
Daily Low: 144.59
Trend: Bearish

Resistance
R1: 145.00 (psychological round figure mark)
R2: 145.25 (ascending trend-line support break-point)
R3: 145.69 (100-period SMA H1)

Support
S1: 144.39 (overnight swing low)
S2: 144.00 (round figure mark)
S3: 143.72 (S3 daily pivot-point)