Temporary Low In GBP/JPY
Trading is neutral for consolidation, as a temporary low was formed at 142.83. The forecast will remain cautiously bearish as long as resistance 145.83 keeps. Pivot points are at: (S1) 143.45; (P) 143.84; (R1) 144.43.
Overcoming of support 142.76 will extend the decline from 149.48 to key support zone 139.29/47.
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.