GBP/JPY Moves Higher

Technical Reports

Trading is on the upside for support turned resistance 145.81, as the bounce from 142.76 continues. Pivot points are at: (S1) 143.52; (P) 144.33; (R1) 145.05.

Overcoming of 142.76 will point out widening of the fall from 149.70 for retesting low 139.88. Further growth is expected to 149.70. Hitting of support turned resistance 145.81 will indicate completion of the fall from 149.70.

Uptrend from 122.36 would widen beyond 156.69 high, while 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) keeps. Overcoming of 139.29/47 will indicate completion of uptrend. In that case, the cross will aline 61.8% retracement at 135.43.