GBPJPY has been turning bullish for the last few weeks, with impulse up as wave A) shown on the daily chart which means that market is in a bigger three wave recovery which is expected to resume after wave B) pullback, that can be as of current price activity completed. We are specifically talking about the new bounce, that occurred the past week, from around the 136.50 level. On the 4h chart, this rally is seen as a minor impulsive wave one. That said a break above the wave A swing level at 142.14 would suggest higher levels to follow.
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