Key-resistance at 133.19 remains untouched which keeps this count as the alternate count. We believe that it is just a matter of time before the real test and likely break above key-resistance at 133.19 occur. Once broken that will call for a continuation higher to 135.00 and to 141.06.
In the short-term, we could see GBP/JPY move lower to the solid support at 131.87 before being ready to test the key-resistance again.
R3: 133.59
R2: 133.19
R1: 132.40
Pivot: 131.87
S1: 131.56
S2: 131.20
S3: 130.65
Trading recommendation:
We are long GBP from 131.95 and has placed our stop at 130.65
The material has been provided by InstaForex Company - www.instaforex.com