Temporary Top In GBP/JPY

Technical Reports

Trading is neutral, as a temporary top was formed at 143.65. Trading above 143.65 will aline 55 day EMA (now at 144.60). Pivot points are at: (S1) 142.74; (P) 143.01; (R1) 143.50.

Another growth is expected, while minor support 141.92 keeps. Trading below minor support 141.92 will point out completion of the bounce. It is forecast, that downtrend will renew to key support zone 139.29/47.

Fall from 156.59 is a corrective. Recoil from 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) will indicate that growth from 122.36 continues through high 156.59. Overcoming of 139.29/47 will point out a medium term trend reversal and send the cross to retest low 122.26.