GBP/JPY did not dip to 126.48 before starting to move higher towards the corrective target at 134.52. It seems that a complex b-wave is unfolding and in that case, we should expect a rise around 132.05 and then a second dip to 127.30 and maybe just below before the spike to 134.52.
Once this correction near 134.52 is completed, we should look for a final drop to 123.04.
R3: 134.52
R2: 133.97
R1: 132.92
Pivot: 132.05
S1: 131.20
S2: 130.47
S3: 129.55
Trading recommendation:
We are looking for a GBP selling opportunity near 134.45
