GBP/JPY: Temporary Top Was Formed

Technical Reports

Trading is neutral for consolidation, with a temporary high at 153.83. Downside should be contained above 150.58. Pivot points are at: (S1) 152.30; (P) 153.07; (R1) 153.57.

Trading above 153.83 will widen the growth from 144.97 to retest maximum 156.69. Overcoming of 150.58 will point out completion of the recoil from 144.97.

Price moves from 156.59 are a corrective. Another drop for 38.2% retracement of 122.36 to 156.59 at 143.51 is awaited before consolidation completion. Overcoming of 156.59 will renew uptrend from 122.36 to 50% retracement of 195.86 to 122.36 at 159.11.