Drop of GBP/JPY Points Out Trend Reversal

Technical Reports

Trading of the cross is on the downside for support 149.40. Pivot points are at: (S1) 149.70; (P) 151.14; (R1) 151.94.

The decline from 153.66 is a sign of trend reversal in the pair. Trading above minor resistance 151.74 will become neutral.

Focus in the pair is on support 146.96, as the decline from 153.66 is seen as sign of trend reversal. Overcoming of 146.96 will confirm medium term topping.