Drop of GBP/JPY Extends
Trading of the cross is on the downside for support 146.96, as the fall from 156.59 goes on. Pivot points are at: (S1) 148.95; (P) 149.78; (R1) 150.59.
Break of resistance 154.03 will confirm completion of the drop. Overcoming of 146.96 will point out a medium term trend reversal.
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.