GBP/JPY: Further Rise Is Awaited

Technical Reports

Trading is neutral, as the cross is staying above minor support 146.28. Further growth is still expected. Pivot points are at: (S1) 148.54; (P) 149.01; (R1) 149.42.

Overcoming of 149.70 will point out resumption of the rise from 139.88 and aline resistance zone 153.84/156.59. Trading below minor support 146.28 will back to the downside for 142.76.

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.