GBP/JPY Remains in Consolidation

Technical Reports

Trading is neutral for consolidation below temporary high 153.83. Growth resumption in the pair is possible. Pivot points are at: (S1) 152.89; (P) 153.32; (R1) 154.00.

Trading above 153.83 will widen the growth from 144.97 to retest maximum 156.69. Overcoming of 151.15 will point out completion of the recoil from 144.97. Downside should be contained by minor support 151.15.

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.