Growth of GBP/JPY Reaches the Top
Trading is on the upside, as the pair increases to maximum 156.59. Pivot points are at: (S1) 155.12; (P) 155.77; (R1) 156.69.
Running growth would target 100% projection of 139.29 to 152.82 from 146.96 at 160.49. Break of 156.07 points out uptrend resumption. Overcoming of support 151.95 will indicate a short term topping.
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.