Pull Back in GBP/JPY Has Completed

Trading in the pair is on the upside for key resistance zone 147.76/148.42. Pivot points are at: (S1) 145.42; (P) 145.91; (R1) 146.35.

Pull back from 147.76 has completed at 144.01. Resumption of a recoil from 122.36 is awaited. 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.