Growth in GBP/JPY Goes On
Trading of the cross rate is on the upside for maximum 152.82. Pivot points are at: (S1) 150.64; (P) 151.52; (R1) 153.09.
Overcoming of resistance 151.92 will renew a medium term growth from 139.29. Trading below minor support 150.85 will bring pull back. The pair should target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32.
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.