Fall Of GBP/JPY Has Completed
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.