Growth Completion In GBP/JPY
Trading is on the downside for support 142.59, as break of 145.67 resistance turned support suggests completion of the growth from 139.88 at 149.70. Pivot points are at: (S1) 145.39; (P) 145.90; (R1) 146.50.
Overcoming of support 142.59 will aline low 139.88. Hitting of 147.57 will indicate completion of the drop from 149.70. A near term forecast will stay mildly bearish even in case of recovery
It is forecast, that a medium term growth from 122.36 would extend through high 156.96. The cross has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). This forecast will stay preferred while a near term support 145.67 keeps.