GBP/JPY - Monthly
GBP/JPY - Weekly
GBP/JPY - Daily
GBP/JPY - 4 Hourly
Cups with handle
GBP/JPY - Look for upside acceleration in wave 3/ of 3 the wonder to behold...
A break above minor resistance at 153.41 will release a lot of build up energy and should cause GBP/JPY to accelerate higher towards 159.00 as the first minor target, but longer term, a continuation higher to 164.85 and 172.00 should be expected.
The classic technical analysis also shows a nice pair of "Cups with handle" formation ready to take GBP/JPY much higher (see chart 5).
If my long-term count is correct, then we are entering wave 3/ of 3, which normally is the strongest of the waves and the prices action here, often becomes almost vertical.
So be ready to pull the trigger for a nice big rally - "The wonder to behold" as Pretcher says it...
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