GBP/JPY reversed from resistance area

GBP/JPY reversed from resistance area

  • GBP/JPY reversed from resistance area
  • Next sell target - 147.50

GBP/JPY continues to fall inside the minor corrective wave (ii) which started earlier from the resistance area lying between the resistance level 152.50 (top of the previous minor impulse wave 1 from September), resistance trendline of the daily up channel from April and the upper daily Bollinger Band. GBP/JPY is expected to fall further toward the next sell target at the next support level 147.50 (which has been reversing the price from the start of October).

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