GBP/JPY MT: the upside prevails. Still going BULLISH Trend
Pivot: 140.60
Our Preference: LONG position above 140.6 with 153.85 & 157.50 in sight.
Alternative scenario: Below 140.6 look for further weakness to 137.50.
Comment: the pair remains on the upside and is approaching its previous high.
Trend: ST Consolidation; MT Bullish, we have been bullish since 12 SEP 2012 (124.57).
Key levels Comment
163.10*** Horizontal resistance
157.50** Horizontal resistance
153.85*** Horizontal resistance
151.41 Last
140.60** MT pivot point
137.50*** Horizontal support
133.25*** Horizontal support
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