GBP/JPY reached sell target 158.00
- GBP/JPY reached sell target 158.00
- Next sell target - 155.00
GBP/JPY continues to fall – after the earlier breakout of the support level 158.00 (low of the previous minor correction (iI)), which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 158.00 is likely to intensify the active minor correction (ii) – which started earlier from the pivotal resistance level 162.50 and which belongs to the impulse wave 3 of the intermediate impulse wave (C) from the start of May.
GBP/JPY is likely to correct down further to the next sell target at the support level 155.00 (which reversed the previous intermediate (B)-wave of the active primary Ⓑ wave from the start of April).