Decline in GBP/JPY Goes On
Trading in the pair is on the downside for support 149.82. Pivot points are at: (S1) 149.00; (P) 149.50; (R1) 149.95.
Overcoming of 149.82 will renew the correction from 152.82 and target 61.8% retracement of 139.29 to 152.82 at 144.45. It is awaited, that support from 144.45 will bring a recoil. the pair can tert maximum 152.82.
A medium term recoil from 122.36 will resume after completion of a corrective pullback from 152.82. Downtrend in the pair can renew. Overcoming of 38.2% retracement of 196.85 to 122.36 at 150.43 will target 61.8% retracement at 167.78.