Price movements on the GBP / JPY currency pair chart this week are seen to remain failing to break the 142,200 resistance zone.
The price height zone has been tested for 3 consecutive weeks but the price is still dead to record a higher increase.
In Monday's trading yesterday, the level was tested again before the price plunged again to close the trade below the Moving Average 50 (MA50) barrier level within the 1 hour time frame of the price movement.
This gives an early signal for a bearish trend change on the GBP / JPY chart.
The Yen did not react significantly after the minutes of the Japanese central bank meeting were published in the Asian session.
While the Pound Sterling is still trading at risk with a focused focus on UK employment data reports in the European session.
Prices made a decline towards the RBS (resistance become support) zone of 141,200 but the downward momentum since the Asian session stalled when UK job data reports were published with encouraging readings.
If the price hike occurs again, the MA50 barrier will be tested before the 142.200 resistance zone will again try to break through.
Next the price will record the latest high level leading to the level around 142,700.
However, if the price continues to decline, the price support zone is seen around the level of 140,200 before the lower test tests the price of 139,700.
