(GBP/JPY)

The Pound continued its bearish wave against the Yen yesterday but the pair managed once again to rebound from the critical support at 202.76 which represents the 38.2% correctional level for the upside wave that started back in March, the pair seems to have gathered enough momentum that could lead it back to the upside on intraday basis but the pair is under pressure from a negative model represented by a descending triangle which will only fail if the pair breaches the 204.11 to the upside. 

 

Support203.30202.76202.36201.86201.43
Resistance204.11204.52204.97205.49206.10

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