GBPJPY recently reversed down from the resistance area lying between the strong resistance level 142.000 (which stopped the sharp impulse wave C in August as can be seen below) and the upper daily Bollinger Band. The downward reversal from this level 142.000 started the active minor impulse wave (i). Given the latest rise in the bullish yen sentiment as seen across the FX markets today – GBPJPY is expected to fall further toward the next round support level 140.000 (target for the completion of the active minor impulse wave (i)).
