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GBPJPY: middle-term, bullish mood above 145.85

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   As continuation of the previous prognosis, we can examine descending cycle finishing and count on the prolonged growth; a signal for its continuation will serve the price fixation above 162.50 in the middle-term perspective. I suppose 179.00 as initial target, furthers will be examined in the course of structure generation.

   Trade recommendations: to examine middle-term buys above 145.85, with the initial target 179.00. Conservatively, wait for break outs of 162.50. Synchronize short-term tactics with the current middle-term structure.

   Alternative scenario: breakout of 145.85 downward will open 140.70.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst