GBP/JPY continuation?
If you look at the Daily Chart, GBP/JPY broke the descending channel, and we know that whenever we see a break of a descending channel, usually the price reaches the beginning of the channel. Also, GBP/JPY broke the channel with 5 big waves up, and currently, we are in wave IV of big wave 5. Thus, I expect GBP/JPY to go up towards the beginning of the channel at 156.416 as our first target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.