GBP/JPY peaked at 142.34 before the expected correction into the support-area between 141.06 - 141.29 was seen. GBP/JPY saw a perfect test of the bottom of this support-area and should now be headed higher again to above the minor peak at 142.34 as the underlying uptrend gathers upside momentum.
Short-term solid support is seen at 141.40 with key-support seen at 140.33.
R3: 142.34
R2: 142.01
R1: 141.80
Pivot: 141.73
S1: 141.61
S2: 141.40
S3: 141.21
Trading recommendation:
We are long GBP from 140.71 and we have moved our stop higher to 141.00
The material has been provided by InstaForex Company - www.instaforex.com