GBP/JPY has followed the expected path lower through support at 142.94. This adds renewed downside pressure towards 140.80and towards support in the 139.29 – 139.83 target-zone.
In the short term, we could see a minor correction to retest the former support at 142.94 which is now acting as resistance before renewed downside pressure towards 140.80 and the way lower.
We are short GBP from 143.95 and we have moved our stop lower to 144.45.
The material has been provided by InstaForex Company – www.instaforex.com