The GBP/JPY Has Formed a Temporary Low

Trading in the pair is neutral, as a temporary minimum was formed at 149.40. Pivot points are at: (S1) 150.54; (P) 150.90; (R1) 151.44.

Trading above minor resistance 151.85 will confirm completion of the pull back and back to the upside for 153.39. Support from 146.96 should bring a recoil.

A medium term growth from 122.36 is resuming to 61.8% retracement of 195.86 to 122.36 at 167.78. Downtrend in the pair can renew after forming minimum below 122.26. Overcoming of support 146.96 will indicate trend reversal.