GBP/JPY falling inside minor ABC correction (ii)

GBP/JPY falling inside minor ABC correction (ii)

  • GBP/JPY falling inside minor ABC correction (ii)
  • Next sell target - 139.00

GBP/JPY has been falling in the last few trading sessions inside the c-wave of the minor ABC correction (ii) from the start of July. The active wave started when the pair reversed down from the powerful resistance area located between the long-term resistance level 148.00 (top of the previous impulse waves (1) and 1 and (i)) and the upper daily Bollinger Band. GBP/JPY is expected to fall further to next sell target at the next round support level 139.00 (bottom of the previous minor ABC correction 2 from June).

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