Tanalys

GBP/JPY MT: further advance.

Pivot: 148.10

Our Preference: LONG position above 148.1 with 163.1 166 in sight.

Alternative scenario: Below 148.1 look for further weakness to 145.65.

Comment: the pair remains on the upside and is breaking above its previous high.

Trend: ST Consolidation; MT Bullish, we have been bullish since 12 SEP 2012 (124.57).

Key levels Comment

171.00** Horizontal resistance

166.00** Horizontal resistance

163.10*** Horizontal resistance

158.04 Last

148.10*** MT pivot point

145.65*** Horizontal support

140.40** Horizontal support

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