GBP/JPY reversed from resistance zone
- GBP/JPY falling inside minor impulse wave 5
- Next sell target – 130.00
GBP/JPY has been falling in the last few trading sessions inside the minor impulse wave 5 – which started in June – when the pair reversed down from the resistance zone lying between the resistance level 142.00, upper daily Bollinger Band and 38.2% Fibonacci correction of impulse wave 3. The active impulse wave 5 belongs to the intermediate impulse wave (3) from May.
GBP/JPY will, most likely, continue to fall toward the next sell target at the support level 130.00 (which stopped the previous minor impulse wave 3 in July).