GBPJPY recently broke through the support area lying between the key support level 145.80 (former resistance from August, which reversed the price earlier this month) and the 38.2% Fibonacci correction of the previous sharp upward correction from the middle of August.
The breakout of this support area accelerated the active impulse wave 3- which belongs to the medium-term impulse wave (3) from the start of October.
GBPJPY is expected to fall further and re-test the next support level 144.00 (target price for the completion of the active impulse wave (3)).
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