Drop in GBP/JPY Lasts

Trading in the pair is on the downside, as a fall from 147.76 continues. Pivot points are at: (S1) 142.45; (P) 142.91; (R1) 143.55.

Downside of the pair should be contained by support from 135.58. Trading above minor resistance 144.20 will point out completion of the decline from 147.76.

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.