GBP/JPY is still consolidating just below resistance at 141.58 but it should just be a matter of time before this resistance is taken out for a continuation higher towards 143.19 and 144.58 as the next upside targets.
Short-term support is seen at 141.36 and then at 140.90. We expect the later support to protect the downside for a clear break above 141.58.
R3: 142.57
R2: 142.14
R1: 141.74
Pivot: 141.58
S1: 141.36
S2: 140.90
S3: 140.61
Trading recommendation:
We are long GBP from 140.12 with our stop placed at 139.85
The material has been provided by InstaForex Company - www.instaforex.com