Fall of GBP/JPY Is Progressing

Technical Reports

Trading is on the downside for support 148.37, as the corrective fall from 153.84 continues. Pivot points are at: (S1) 149.92; (P) 150.38; (R1) 150.92.

Overcoming of resistance 152.71 will point out completion of the fall. Break of 148.37 will aline 144.97. A near term forecast will stay bearish in case of recovery.

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.