The GBP/JPY’s Decline May Prolong

Technical Reports

Trading of the pair is on the downside for support 150.18, as decline from a short term top 156.07 continues. Pivot points are at: (S1) 152.77; (P) 153.39; (R1) 153.97.

The pair’s fall may widen to support 150.18, and overcoming of that level will target key support level 149.96. Break of 156.07 will renew a medium term growth.

It is awaited, that growth from 122.36 will extend to 61.8% retracement of 195.86 to 122.36 at 167.78. Overcoming of support 146.96 will indicate trend reversal, and the pair will retest minimum 122.36.