Decrease Of GBP/JPY Is Progressing
Trading is on the downside for support 148.37, as the corrective fall from 153.84 continues. Pivot points are at: (S1) 148.67; (P) 149.40; (R1) 149.79.
Break of 148.37 will aline 144.97. A near term forecast will stay bearish in case of recovery. Trading above resistance 150.60 will point out completion of the decline from 153.84, and trading will back to the upside for resistance 152.71.
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.