Drop In GBP/JPY Extends

Technical Reports

Trading is on the downside for key support zone 139.29/47. The forecast will remain cautiously bearish as long as resistance 145.83 keeps. Pivot points are at: (S1) 141.15; (P) 142.40; (R1) 143.57.

Trading above minor resistance 142.97 will become neutral for consolidation, before staging another decline.

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.