Fall Of GBP/JPY Could Extend

Technical Reports

Trading is on the downside for minimum 144.97, as the corrective fall from 153.84 continues. Pivot points are at: (S1) 146.94; (P) 147.60; (R1) 148.15.

Trading above minor resistance 148.38 will become neutral for consolidation, but upside should be bounded below resistance 150.60. Overcoming of minimum 144.97 will renew the drop from 156.59 to 100% projection of 156.59 to 144.97 from 153.84 at 142.22.

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.