GBP/JPY upward correction is in play, with resistance seen at 171.55
We have seen a strong recovery in GBP/JPY after the cross hit bespoke support of 168.00. We are assessed as being in the BC leg of a larger Gartley formation. This bullish pattern will complete close to 166.90.
Looking at the one-hour chart and the prime resistance zone is located at 171.57-171.84. This would complete an Inside Bat formation and highlight that the correction (BC leg) higher has stalled.