Bounce Of GBP/JPY Has Completed

Technical Reports

Trading is on the downside for retesting 139.88, as bounce from 139.88 has completed at 145.67. Pivot points are at: (S1) 142.57; (P) 143.30; (R1) 143.76.

Trading above minor resistance 144.20 will back to the upside for 145.67 and possibly above. Overcoming of 139.88 will aline 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.