GBP/JPY dipped to a low of 140.63 before moving higher again as expected. We are looking for upside acceleration towards the 145.17 and likely even closer to 147.71 as the next hurdles on the way towards 151.90 in wave iii.
Support is now seen at 141.35 with key support at 140.63, which should be able to protect the downside for the acceleration higher.
We are long GBP from 140.90 and we will move our stop higher to 140.50.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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