GBP/JPY has recovered nicely from the corrective low of 138.25 and is currently testing minor resistance neqar 139.87 and a break above here, will open up for a continuation higher to the former peak at 142.72 and ultimately above here too for a rally towards 147.38, but for now let's see if a break above minor resistance at 139.87 can be mustard shortly.
Support is currently seen at 139.06 and again at 138.93
R3: 140.32
R2: 139.85
R1: 139.47
Pivot: 139.06
S1: 138.93
S2: 138.60
S3: 138.25
Trading recommendation:
We are long GBP from 138.35 and we will raise our stop to 138.20.
