Resumption of Recoil in GBP/JPY is Expected
Trading is neutral, as the pair is staying in a range of 144.01/147.76. Pivot points are at: (S1) 145.71; (P) 146.23; (R1) 146.94.
Resumption of a recoil from 122.36 is awaited because of overcoming of key resistance zone 147.76/148.42.
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.