Trend Reversal in GBP/JPY is Awaited

Technical Reports

Trading is neutral, and 156.07 is considered as a short term top. Pivot points are at: (S1) 153.89; (P) 154.61; (R1) 155.68

Overcoming of 151.95 will be the first sign of trend reversal. The pair’s fall may widen to key support 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.