GBPJPY continues to rise after the earlier breakout of the key resistance level 139.600 (former monthly high from June, which has been reversing the price from the end of July), standing close to the 61.8% Fibonacci correction of the sharp downward impulse from last December. Given the clear daily uptrend and the strong sentiment affecting the sterling today – GBPJPY is likely to extend the gains toward the next resistance level 124.000 (target price for the completion of the active impulse wav 3).
