Fall Completion In GBP/JPY

Technical Reports

Trading is on the upside for resistance 149.30. Trading below minor support 144.66 will become neutral. Pivot points are at: (S1) 145.54; (P) 146.18; (R1) 147.36.

Overcoming of 38.2% retracement of 156.59 to 139.88 at 146.26 indicates completion of the whole fall from 156.59 at 139.88, just ahead of 139.29/47 key support zone.

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.