Rise of GBP/JPY Prolongs

Technical Reports

Trading of the cross is on the upside. Pivot points are at: (S1) 151.77; (P) 152.66; (R1) 153.40.

Running growth should target 61.8% projection of 139.29 to 152.82 from 146.96 at 155.32. Overcoming of 151.74 will turn focus back to support 149.40.

A medium term increase from 122.36 should be targeting 61.8% retracement at 167.78, as the pair has finally taken out 38.2% retracement of 195.86 to 122.36 at 150.43.