GBP/JPY dipped a bit lower than the expected support-zone between 141.09 - 141.33. The low has been seen at 140.87. Despite the deeper correction, nothing has changed and a new attack on the resistance at 141.69 is expected shortly for a continuation higher towards 143.19 and 144.58 as the next upside targets.
Support at 140.87 is likely to protect the downside for a more serious test of 141.69.
R3: 142.14
R2: 141.69
R1: 141.58
Pivot: 141.33
S1: 141.13
S2: 140.89
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