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.
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