Fall Of GBP/JPY Has Completed

Technical Reports

Trading is on the upside for resistance 149.99, as drop from 153.84 has completed at 143.18. The bounce from 143.18 extended higher. Pivot points are at: (S1) 146.38; (P) 146.75; (R1) 147.45.

Overcoming of minor support 145.82 will point out completion of the recoil and bring retest of a minimum 143.18. Break of resistance 149.99 will aline key near term resistance 153.84.

Price moves from 156.59 are a corrective. Growth from 122.36 could widen. While another drop is not ruled out, downside should be restrained by strong support above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). Overcoming of 139.29 will point out trend reversal.