There was no time for the correction in green wave iv/ to evolve into a larger sideways correction and with the clear break above resistance at 144.94 GBP/JPY is already on the way higher to the first possible target for green wave v/ seen at 146.64, with the potential to continue higher towards 147.28 and 147.92. Once green wave v/ runs out of steam a new sideways correction towards 144.95 should be expected.
Support is now seen at 145.35 and then at 144.95.
R3: 147.28
R2: 146.64
R1: 146.39
Pivot: 145.92
S1: 145.75
S2: 145.35
S3: 144.95
Trading recommendation:
We are long 50% GBP from 142.27 and we will move our stop higher to 145.20
