Recoil of GBP/JPY is Resuming

Technical Reports

Trading in the pair is on the upside for resistance 153.39. Pivot points are at: (S1) 151.46; (P) 151.72; (R1) 151.95. The recoil from 149.40 is resuming. Resumption of a medium term growth is expected.

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.