GBPJPY – Corrective Structure, Still Bullish | May 14

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GBPJPY – Corrective Structure, Still Bullish (1hr chart)
For the last few days, the GBPJPY has been in a bullish corrective structure. I’m suspecting another bull leg up is on the cards.

Besides the base of the ST corrective range, we have a key support zone between 185.87 and 184.18. This to me will attract bids who are looking to buy on a pullback.

So I’m looking to get long on a pullback here. Upside my targets will be 188 and 189.45. Only a daily close below this zone would negate my MT bullish bias.

gbpjpy

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