Growth Of GBP/JPY Should Extend

Technical Reports

Trading is on the upside for resistance 149.99, despite the cross retreats notably after hitting 148.88. Further growth is expected, considering minor support 146.79. Pivot points are at: (S1) 147.06; (P) 147.60; (R1) 148.40.

Break of 146.79 will turn focus back to support zone 143.18/76. Overcoming of 149.99 will aline resistance 153.84.

Fall from 156.59 is a corrective. 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 153.84 will point out completion of a correction and aline 156.59. A medium term uptrend resumption is awaited.