Increase in GBP/JPY Has Resumed
Trading of the cross rate is on the upside for resistance 151.92. Consolidation from 152.82 has completed at 146.96. Pivot points are at: (S1) 148.99; (P) 149.70; (R1) 150.79.
Overcoming of resistance 151.92 will renew growth from 139.29. Trading below minor support 149.33 will prolong the consolidation from 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.