GBP/JPY - GBP/JPY is Consolidating The Last Hours - 08/04/2016 (GMT)

The GBP/JPY pair edged sharply lower for the second consecutive month and plunged more than 15% reaching the 129.00 psychological level. This week the pair has a very weak move and is consolidating between the 133.80 support level and the 136.50 resistance level which coincides with the 50-SMA on the 4-hour chart. An aggressive move will probably create today after the release of the BoE’s interest rates decision. A penetration of the aforementioned resistance level will expose the price until the 143.40 resistance level. On the other hand, a break of the 133.80 support level will open the way for the 129.00 strong barrier. On the 4-hour chart, the MACD oscillator is moving in a negative territory while the RSI indicator is approaching its mid-level.