Fall Extension In GBP/JPY

Technical Reports

Trading is on the downside for key support 143.18. The forecast will remain bearish while resistance 147.13 keeps. Pivot points are at: (S1) 143.90; (P) 144.32; (R1) 144.59.

Overcoming of support 143.18 will widen larger fall from 156.69 to key support level 139.29/47. Trading above minor resistance 144.72 will become neutral.

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.