GBP/JPY broke support level 141.30

GBP/JPY broke support level 141.30

  • GBP/JPY broke support level 141.30
  • Next sell target - 139.00

GBP/JPY continues to fall after the earlier breakout of the support level 141.30 (which stopped the previous minor impulse wave (i), as can be seen from the daily GBP/JPY chart below). The breakout of the support level 141.30 should accelerate the active minor impulse wave (iii) – which started earlier from the resistance zone lying between the resistance level 143.20 and the 38.2% Fibonacci correction of the downward impulse from August. GBP/JPY is expected to fall to next sell target at the next support level 139.00.

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