The GBP/JPY Stays in Consolidation

Technical Reports

Trading of the cross is neutral for consolidation above temporary minimum 151.19. Pivot points are at: (S1) 151.01; (P) 152.06; (R1) 152.79.

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.