The GBP/JPY Has Recovered After Fall

Technical Reports

Trading of the cross is neutral. The pair has recovered after forming a temporary minimum at 151.19. Pivot points are at: (S1) 151.72; (P) 152.31; (R1) 153.42.

Near term trend reversal in the pair is possible. Overcoming of 150.18 will target key support level 146.96. Trading below 151.19 will aline support 150.18.

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.