GBP/JPY in a 5 3 5 corrective wave
GBP/JPY is probably reaches now the 145.1xx level to form its B leg in a 5 3 5 corrective wave; for an extension at B leg we expect a further down to 141.3xx in the coming days.
So levels to watch
- support at 145.1xx, a breakdown that support zone could lead the price action lower to 141.3xx.
- if 145.1xx would be well supported, then a further up move will form the C leg to 150.09x again.
Take your look at the depicted chart for more reference: