Support stalls the fall

The GBPJPY moved down along with the other JPY crosses today, but has found a cluster of support defined by some swing lows from February 15, the 38.2% of the move up from the Feb 12 low and the underside of a broken trend line. All converged right around the 146.38 level.  The price decline stalled. There is a modest bounce. 

With the cluster of support at the same area, it will take a move below to tilt the bias more to the downside. Failure to do that, and the move from the high is just a correction.



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