GBP/JPY: sell target - 180.00
By: Dmitriy Chernovolov
- GBP/JPY broke support zone
- Next sell target - 180.00
GBP/JPY has been falling sharply in the last few trading sessions – following the earlier breakout of the support zone lying between the support level 185.00 and 50% Fibonacci Correction of the previous upward impulse from the middle of April. The breakout of this support zone accelerated the active intermediate (C)-wave, which is a part of the intermediate ABC correction (2) from June.
GBP/JPY is likely to fall further inside the active accelerated corrective (C)-wave toward the next sell target at the round support level 180.00 (target price for the completion of the active ABC correction (2)).