GBP/JPY Dips Lower

Technical Reports

Trading is on the downside for support 142.76, considering minor resistance 145.99. A near term forecast will be neutral while key resistance 149.70 keeps. Pivot points are at: (S1) 143.84; (P) 144.37; (R1) 144.73.

Overcoming of minor resistance 145.99 should bring stronger bounce. Deeper fall to key support zone 139.29/47 is not excluded.

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.