The GBP/JPY Has Recovered

Technical Reports

Trading is neutral, as the pair has recovered after hitting 151.95. Pivot points are at: (S1) 152.55; (P) 153.31; (R1) 154.66.

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 uptrend to fibonacci level 167.78.

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.