Completion of Growth in GBP/JPY is Awaited

Trading in the pair is neutral. Pivot points are at: (S1) 148.96; (P) 149.43; (R1) 149.83.

Deeper decline in the pair is possible. Downside should be contained by 38.2% retracement of 141.17 to 152.82 at 148.36. Overcoming of 148.45 will point out completion of a growth from 139.39.

A medium term recoil from 122.36 continues. The pair’s forecast will stay bullish while support 139.29 keeps.