Resumption of Medium Term Growth in GBP/JPY is Expected

Trading of the cross is on the upside for resistance 153.39. The recoil from 149.40 continues. Pivot points are at: (S1) 151.60; (P) 152.20; (R1) 152.67.

Trading below minor support 151.51 will extend the correction. 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.