GBP/JPY has accelerated higher and should continue its upside progress after a minor correction towards 135.15 from where renewed upside pressure is expected for a rally towards 139.15 and 144.98 as the next upside targets.
In the longer term, the minimum target is seen at 160.12 but it could easily extend much higher.
R3: 138.44
R2: 137.87
R1: 137.23
Pivot: 136.73
S1: 136.22
S2: 135.65
S3: 135.15
Trading recommendation:
We are long GBP from 131.25 and we will raise our stop to 133.50
