Downside of GBP/JPY Should be Contained

Trading is neutral, as the pair is staying above support 144.01. Pivot points are at: (S1) 143.69; (P) 145.24; (R1) 146.11.

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.