GBP/JPY continues to push higher towards the next minor resistance at 148.41 and the more solid resistance at 149.41. Longer term, we expect GBP/JPY will move even higher to the 161.8% extension target at 151.50.
Support is seen at 147.62 and again at 147.21 with key-support seen at 146.14.
R3: 149.41
R2: 148.41
R1: 148.13
Pivot: 147.62
S1: 147.21
S2: 146.64
S3: 146.14
Trading recommendation:
We are long GBP from 143.15 and we will move our stop higher to 146.00.
The material has been provided by InstaForex Company - www.instaforex.com