Decline in GBP/JPY Has Resumed

Trading in the pair is on the downside, as drop from 147.76 is resuming. Pivot points are at: (S1) 144.47; (P) 145.38; (R1) 146.06.

Downside of the pair should be contained by support from 135.58. The pair can target at support 138.65.

It is awaited, that increase from medium term bottom 122.36 will continue to 38.2% retracement of 196.85 to 122.36 at 150.43. Downside should be contained by support from 135.58 and 50% retracement of 122.36 to 148.42 at 135.39.