GBP/JPY broke resistance zone

GBP/JPY broke resistance zone

  • GBP/JPY broke resistance zone
  • Next buy target - 145.00

GBP/JPY continues to rise after the earlier breakout of the resistance zone lying between the resistance level 143.00 (which stopped the previous minor impulse wave (i), as can be seen below) and the 50% Fibonacci retracement of the previous downward impulse from the start of August. The breakout of this resistance zone accelerated the active minor impulse wave (iii) – which belongs to the impulse wave 3 from the middle of June. GBP/JPY is expected to rise to the next buy target at the next resistance level 145.00 (target price for the active impulse wave (iii)).

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