GBP/JPY continues to push higher as expected. After a dip to 142.84 (a little lower that our ideal 142.92) GBP/JPY started to rally again and broke above the former peak at 144.10 for a continuation towards the minor green wave v/ target between 144.70 – 145.15. Once green sub-wave v/ completes we should see another corrective set-back close to 142.84, but to secure the base for the next impulsive rally towards 147.96 and ultimately above here too.
Support is now seen at 143.96.
We are long GBP from 142.27 and we will move our stop higher to 142.75
The material has been provided by InstaForex Company – www.instaforex.com
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