GBP/JPY remains locked just below short-term key-resistance at 134.57. Ultimately we see a break above here to confirm the completion of wave ii/ and the onset of wave iii/ to above the former peak at 142.70. The longer we stay locked just below short-term key-support the stronger the coming rally is expected.
Short-term support is seen at 134.01 and then at 133.58.
R3: 136.00
R2: 135.55
R1: 134.57
Pivot: 133.96
S1: 133.58
S2: 133.48
S3: 133.14
Trading recommendation:
We are lobg GBP from 133.51 with our stop placed at 133.00
