Growth Of GBP/JPY Has Resumed
Trading is on the upside for trend line resistance (now at 147.04). Growth from 139.88 goes on and reaches high 145.67. Pivot points are at: (S1) 143.69; (P) 144.64; (R1) 146.44.
Trading below minor support 143.65 will become neutral. Overcoming of trend line resistance (now at 147.04) will be a signal of bullish trend reversal. In that case, the cross will aline resistance 149.30.
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.