GBP / JPY pair
Higher timeframes
Yesterday, the players on the rise remain to have the advantage as the weeks opened with a rising gap. The last week's high (153.83) may be the beginning of a new stage of promotion of players to increase to landmarks located in the area of 156.60 (maximum extremum is 156.58 + the lower limit of the monthly cloud is 156.54 + the target is for the breakdown of the day cloud 156.60 ). If the pair retains its location in the correctional zone, the players will want to develop a correction after a while, as supports stay in place (weekly Fibo Kijun 152.14 + day Tenkan + weekly Kijun 150.77 + daily Kijun).
H4 - H1
After completing the correction to support the lower half, the pair regained the advantage on H4 and H1. Now, in case of a decrease, the lower timeframes are again the first to come to the rescue (153.19 - 152.80 - 152.50) whereas, only after such higher tier levels allows entering the work (152.14 - 151.84). If the players on the rise able to retain their advantages and can go beyond the resistance of the maximum extremum (153.83), then the targets for the higher time intervals (155.44 - 156.60) will be the benchmarks for recovery.
