Gbp/Jpy

well h4 chart ke anusar aur support resistence ke anusar ye pair abhi niche ayegi.
. sell gbp jpy at 127.15
1st tp 20 to 30 pips
2nd tp 126.71
sl 40 pips

Although the British pound rebounded after falling sharply to 124.90 earlier this month, sterling met resistance at 128.40 last week and has retreated (we recommended to sell at 128.20),

Market setbacks have been very well supported on dips into the 125.00 area and we look for the formation of a fresh medium-term higher low around the psychological barrier ahead of the next major upside extension back towards and eventually through 140

Ultimately, only a weekly close below 125.00 would delay and give reason for concern, while a daily close back above 128.00 confirms bias and should accelerate.

Ultimately, only a weekly close below 125.00 would delay and give reason for concern, while a daily close back above 128.00 confirms bias and should accelerate.

R3 126.88 128.17 128.15 130.50 139.26
r2 126.76 127.64 127.77 129.46 136.80
r1 126.54 127.23 127.46 128.73 133.05
pp 126.42 126.70 127.08 127.69 130.59
s1 126.20 126.29 126.77 126.96 126.84
s2 126.08 125.76 126.39 125.92 124.38
s3 125.86 125.35 126.08 125.19 120.63

The pair is moved down to test the support on 126.43
if this is breaked we can see the pair move down
if this support is not breaked we can see the pair move up to test the 1st resistance on 127.20

choppy fall from 163.05 is treated as second leg of the consolidation pattern that started at 2009 low of 118.81.

Our preferred count is that larger degree wave V with circle is unfolding from 251.12 with wave (I) 219.34, (II): 241.38 and wave (III) is subdivided into 1: 192.60, 2: 215.89 (23 Jul 2008)

in my point of view the trend is still very well support the bull with the definite resistance of 140, but a failed doing that and even a down to 125 this week would put pressure the currency to go further this week, but i doubt it will happened