GBPJPY Chart Technical Outlook overbought, but dips to find buyers
GBPJPY is about to finish the 5th Wave, getting ready for a reversal
The cross traded to the highest level in 90 months on Friday. Although signals for sentiment are overbought extremes dips continue to find buying interest.
We must express caution at current levels with a 261.8% extension seen at 182.98.
However, we continue to post higher highs and higher lows and there is no clear indication of a change of trend yet.
Bespoke support is located at 181.75. With this being close to the projected support level for a Bat formation, I would look for buyers to return close to this zone (181.77-75)