GBP/JPY has edged higher after resistance at 141.74 was broken. The next major target to look for is 144.55. It is likely to mark the top of red wave v and black wave iii and set the stage for a prolonged correction in black wave iv to the support-zone between 139.30 - 140.35. However, we should focus on the potential growth to 144.55.
R3: 144.55
R2: 143.87
R1: 143.28
Pivot: 142.80
S1: 142.44
S2: 142.16
S3: 141.71
Trading recommendation:
We look for GBP from 140.12, we will raise our stop to 141.50 and we will take profit at 144.45.
