GBP/JPY reversed from resistance zone

GBP/JPY reversed from resistance zone

  • GBP/JPY reversed from resistance zone
  • Next sell target - 144.60

GBP/JPY recently reversed down from the powerful resistance zone lying between the multi-month resistance level 148.60 (which stopped the previous primary ABC correction ② in December, as can be seen from the daily GBP/JPY chart below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the sharp downward impulse from last July.

GBP/JPY is expected to fall to the next sell target at the next support level 144.60 (previous resistance level from January, acting as support now after it was broke earlier).

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