GBP/JPY rising inside intermediate correction
- GBP/JPY rising inside intermediate correction
- Next buy target - 140.00
GBP/JPY continues to rise inside the second intermediate corrective wave (2) – which started earlier - when the pair reversed up from the support zone lying between the support level 130.00 (previous sell target and the low of the earlier primary impulse wave ③) and the lower daily Bollinger Band.
GBP/JPY is expected to rise further in the active intermediate wave (2) toward the next buy target at the resistance level 140.00 (top of the earlier minor B-wave from July) - coinciding with the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of June).